Stock grant coming due

[tuffbrk]

What is the name of your state? NJ

I rec'd a stock grant from my company a number of years ago. Notified by Human Resources that it must be exercised no later than 12/15 of this year or it expires.

When I exercise - do I have to give 1/2 the net disbursement to STBX's attorney? Is there any way that I can use the funds for - say filling up the oil furnace - and charging the Ex half? Can I keep it all and say that since STBX pays for nada, I am keeping it for reimbursement of household expenses? (Those of you familiar with me - I'd love to keep the money and use it for kennel fees.)

Obviously, I am trying to figure out if I keep the full net proceeds if it would be considered dissipation of marital assets...

Thanks for your thoughts...

 

[Ohiogal]

What is the name of your state? NJ

I rec'd a stock grant from my company a number of years ago. Notified by Human Resources that it must be exercised no later than 12/15 of this year or it expires.

When I exercise - do I have to give 1/2 the net disbursement to STBX's attorney? Is there any way that I can use the funds for - say filling up the oil furnace - and charging the Ex half? Can I keep it all and say that since STBX pays for nada, I am keeping it for reimbursement of household expenses? (Those of you familiar with me - I'd love to keep the money and use it for kennel fees.)

Obviously, I am trying to figure out if I keep the full net proceeds if it would be considered dissipation of marital assets...

Thanks for your thoughts...

It would not be considered dissipation of marital assets if you are using it to pay marital expenses.

 

[tuffbrk]

So...marital expenses would include the estimated $600 to fill the oil furnace, paying the township the $400 balance for the sewage bill, replacing a window, bringing permits with the town up to date, the car insurance due in December...holdiays gifts for the kids by any chance?

Doing the Irish jig right now - but since I'm at work it's without the liquor!!

 

[Bali Hai]

So...marital expenses would include the estimated $600 to fill the oil furnace, paying the township the $400 balance for the sewage bill, replacing a window, bringing permits with the town up to date, the car insurance due in December...holdiays gifts for the kids by any chance?

Doing the Irish jig right now - but since I'm at work it's without the liquor!!

I suggest you notify your ex's attorney that you are receiving a marital disbursement and suggest you put the money in escrow until the judge has a chance to rule on it.

 

[tuffbrk]

Sigh....you just had to ruin my day, didn't you, Bali? Here is what I don't "get" - I am struggling and yet assets that I earned and are available to me, I can't use without fear of being cited for dissipation. It's sad considering that he financially abandoned the household!

 

[Ohiogal]

Sigh....you just had to ruin my day, didn't you, Bali? Here is what I don't "get" - I am struggling and yet assets that I earned and are available to me, I can't use without fear of being cited for dissipation. It's sad considering that he financially abandoned the household!

I do not see a problem with you paying MARITAL obligations with it. They need paid. You are the only one to do this. Holiday gifts may be considered dissipation but nothing else you mentioned would be. It is protecting marital assets and providing for the family household. Of which currently your STBX is, correct?

 

[Bali Hai]

I do not see a problem with you paying MARITAL obligations with it. They need paid. You are the only one to do this. Holiday gifts may be considered dissipation but nothing else you mentioned would be. It is protecting marital assets and providing for the family household. Of which currently your STBX is, correct?

Well let me tell you a brief story (and it's true).

A divorcing friend of mine claimed HOH on his income taxes last year. Well within his right to do so. He has a 6k return coming (last year). He has three kids and a wife who abandonded them all. He is in the procees of losing his house and the tax return would be a big help keeping a roof over his three kids heads. The puss nuts judge orders him to put that tax return into escrow (request of the worthless wife) until a decision is made about how it is to be divided. In the meantime the bank forecloses.

Did the judge in this case see a problem with him paying MARITAL obligations with that tax return???

 

[Bali Hai]

Sigh....you just had to ruin my day, didn't you, Bali? Here is what I don't "get" - I am struggling and yet assets that I earned and are available to me, I can't use without fear of being cited for dissipation. It's sad considering that he financially abandoned the household!

Keep your chin up tuffbrk. When this is over, you will be a stronger person. Many people said that to me during my divorce and they were right.

I'm kicking ass and taking names now!!

 

[Ohiogal]

Well let me tell you a brief story (and it's true).

A divorcing friend of mine claimed HOH on his income taxes last year. Well within his right to do so. He has a 6k return coming (last year). He has three kids and a wife who abandonded them all. He is in the procees of losing his house and the tax return would be a big help keeping a roof over his three kids heads. The puss nuts judge orders him to put that tax return into escrow (request of the worthless wife) until a decision is made about how it is to be divided. In the meantime the bank forecloses.

Did the judge in this case see a problem with him paying MARITAL obligations with that tax return???

That is fricking ridiculous.

 

[tuffbrk]

OG - Yes, he resides in our household which means that I can't claim head of household on income tax, instead I'm filing married filing separately (sheesh!!), have to retain him on the car insurance, keep him warm in winter, warmer in summer (LOL!!), blah, blah, blah. So basically, I'm contributing to his support already (which is why the whole alimony deal is really going to freak me out! I never signed up for this and the guy always worked - didn't share his $ other than to pay certain bills but now I'm paying all of the bills!)

Bali - maybe the issue was the HOH claim, judge didn't know whether wifey contributed towards children's support unofficially? No clue - sounds insane for kids to lose their home when $ is sitting in the bank - sounds like his lawyer is as passive as mine!
BTW - I think I was plenty strong enough already! These days, though, I think I'm closer to losing it out of sheer frustration! But I do appreciate the encouragement to keep plodding forward!