Vested stock awards - Asset or income?

[disneydad]

At the beginning of my divorce I got handed the standard restraining order in GA about not selling any of the property belonging to the parties except in the ordinary course of business.

Some of the "property" in concern are some stocks that were from past stock awards that vested. As those awards vest (while I stay with the company) they transfer to my account. Some stocks are withheld as taxes.

I have some that vested after the RO was issued. My position is that as the awards vest, they are income. I can see that any stocks in my posession at the time of the RO might not be able to be sold. But stocks vesting after that date (to me) are income, which would mean they're like my salary or even a bonus, I should be able to do with them the same thing I would do with regular salary or bonus - use them for living expenses.

Does anyone have any opinions on this position?

[hoosier_dad]

I think the main question is how does your state view unvested stock awards in divorce. At the time of my divorce I had a substantial stock grant (RSUs) that had not vested. Luckily in my state unvested stock grants are not considered marital property and therefore were not even a topic in the divorce process. I know of other states that view unvested stock awards as marital property even though they rely on fulfilling future requirements (staying employed with the company).

[hoosier_dad]

You might read this article on equitable division in GA, gets pretty complicated. But I think it makes it pretty clear that some portion of your stock awards are considered marital property.

http://www.johnmarshall.edu/academics/LawJournalPublications/Crumrine%20Miller.pdf

[disneydad]

Hey hoosier dad, thanks for the reply, but that link gives a "page not found" error.

[minuette]

Google "vested stock" georgia and click the Quick View for the John Marshall Law School link (it's a few down the list).

Here's another article:
http://www.avvo.com/legal-guides/ugc/di ... a-divorces