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March 2014 Archives

Stock options and restricted stock present challenges in divorce

Many Connecticut couples know that dividing property in a divorce can be a challenging process. Even if the assets only consist of a house, some savings and retirement accounts, the property division process can be complex. Marital property division becomes even more complicated when assets like restricted stock or stock options are involved. Stock options represent the opportunity to buy company stock at a fixed price regardless of the current market price. Restricted stock are shares of a company that have been granted as compensation but cannot be sold until certain conditions are met.

Orszag's ex-spouse seeking $25,000 in monthly child support

Some Connecticut residents may remember the tenure of Perter Orszag as a federal employee, first as an economic adviser to President Clinton and then as the Director of the Office of Management and Budget. Mr. Orszag later went on to become an executive with Citigroup, at a much higher salary. As a result, in 2012, his former spouse, Cameron Kennedy, filed court papers seeking an increase in child custody payments pertaining to their two children. The dispute was not resolved and the case went to trial on March 11.

Judge rules that Hamm can keep Continental shares in divorce

Connecticut residents may be interested in the most recent development in the ongoing divorce of Continental Resources founder Harold Hamm. In an order dated Feb. 13, the judge presiding over the divorce ruled that Hamm's 122 million shares of Continental were premarital property and would thus not be subject to any divorce settlement.

Connecticut father denied custody after murder plot

The father of an 8-year-old girl filed a complaint against the guardian ad litem that was assigned to represent his daughter in his custody case after his former wife was arrested for attempting to hire a man to kill him. The murder-for-hire plot took place about three years after the husband filed for divorce in 2009. Throughout the ordeal, the mother has retained custody of the child.

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