There are a lot of different things to consider when going through a divorce. One of the biggest concerns people in Louisiana may have is what their financial future will look like after finalizing everything. For these individuals, it is important to pay close attention during the property division process. It is surprisingly easy to overlook certain marital assets that may provide significant financial benefits for the future.
Are there any restricted stock units?
Some jobs provide deferred compensation alongside employees’ regular paychecks. One such form is deferred stock units. Although the compensation might be considered marital property, it is usually not possible to transfer restricted stock units to different people. This means that divorcing couples will need to carefully account for this during property division. Many different positions offer deferred stock units, but some of the more common ones that do include:
- Finance jobs
- Banking jobs
- Executive level jobs
What about pensions?
Like retirement accounts, pensions are frequently considered marital property when they were earned during the course of a marriage. Although pensions generally do not pay out until retirement, it is still necessary to address how much each spouse will receive during property division. It may not be wise to rely on the pension’s estimated payment though, as having a professional pension valuation could provide a more accurate answer to how much one can expect.
No one wants to end their marriage on bad financial footing. This means that it is of the utmost importance to pay careful attention to marital assets during property division. It may even prove helpful to speak with a knowledgeable attorney who is well-versed in Louisiana family law.