Decades of marriage usually means accumulating a significant array or marital of assets. Dividing these assets during divorce can be quite a task, especially when there are more complex assets at play. For example, divorcing couples in Kentucky often overlook property such as pensions and restricted stock units.
Although pensions might no longer be as common as they once were, workers in certain industries as well as federal or state employees often have pensions. If one is divorcing a spouse with a pension, it is essential to make sure that this future income is properly accounted for during property division. It might be wise to have a pension valuation done at this stage, as estimated pension payments are subject to change in the future.
Dividing restricted stock units
Restricted stock units are a type of deferred compensation. If one’s spouse was given restricted stock units during the course of the marriage, then they are generally considered marital assets that are subject to division. However, restricted stocks are generally not transferable, so it is necessary to account for these assets in other ways. If someone is not sure whether an ex has restricted stock units, it might be helpful to identify whether he or she works in any of the following:
- Banking industry
- Finance industry
- An executive position
Dividing marital assets during divorce is rarely as straightforward as it seems. Aside from the obviously complicated assets like pensions and restricted stock units, there are also retirement accounts, debt and other complex property that require careful attention to detail. Those who want to prioritize addressing these types of complex assets may find it helpful to speak with an attorney who is knowledgeable in Kentucky family law.