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I live in Texas. My husband moved out on July 17, 2010. He

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I live in Texas....
I live in Texas. My husband moved out on July 17, 2010. He will be paid a long-term cash incentive (granted to keep him at his employer) on November 15, 2010, which was granted in 2007 (vesting for this annual payment occurs on Nov 15, 2010 and the final payment vests on Nov 15, 2011). Also, he receives a significant bonus in March 2011 that relates to company performance during calendar year 2010. How does this factor into community property? Please don't give me the standard answer that isn't specific to this situation. Thank you!
Submitted: 7 years ago.Category: Family Law
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11/1/2010
Family Lawyer: Tina, Lawyer replied 7 years ago
Tina
Tina, Lawyer
Category: Family Law
Satisfied Customers: 33,167
Experience: JD, 17 years legal experience including family law
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Customer reply replied 7 years ago
Yes, I understand and accept these terms. My husband is wanting us to do our own divorce but before I fight for these bonuses/incentives, I need the facts.
Family Lawyer: Tina, Lawyer replied 7 years ago
Thank you.

The amounts that were earned and accrued by your husband prior to the filing of the petition for dissolution would typically be subject to division by the family court in the divorce proceedings.

You would normally seek a 1/2 interest in these anticipated payments or waive your right to receive the 1/2 interest in exchange for some other marital property.

Here is a link I found for you that discusses what is considered marital property (including bonuses and other income):

http://www.northtexasfamilylawyers.com/property-division-expect.php

Best regards,

Tina

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Customer reply replied 7 years ago
Tina, thank you. Just to clarify- even though our date of separation is July 17, 2010, I would still be able to calculate my share at 50% of these amounts? What if the divorce is final before the March 2011 payment for bonus earned in 2010 (if we assumed the divorced was finalized in Jan 2011 for example)?
Family Lawyer: Tina, Lawyer replied 7 years ago
The petition for dissolution is typically the date on which the accumulation of marital assets ceases. It should not matter when the payments are actually made. If they are earned during the marriage, then they are community property.

If they are not paid before the divorce is final, then you will want to include them in the separation agreement indicating the amount or percentage you are to receive when they are paid.

Good luck and take care.
Tina
Tina, Lawyer
Category: Family Law
Satisfied Customers: 33,167
Experience: JD, 17 years legal experience including family law
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