{"id":2749,"date":"2023-09-19T13:41:49","date_gmt":"2023-09-19T18:41:49","guid":{"rendered":"https:\/\/www.mcclure-lawgroup.com\/blog\/?p=2749"},"modified":"2023-09-19T13:41:49","modified_gmt":"2023-09-19T18:41:49","slug":"texas-appeals-court-concludes-stock-issued-by-husbands-employer-was-community-property","status":"publish","type":"post","link":"https:\/\/www.mcclure-lawgroup.com\/blog\/texas-appeals-court-concludes-stock-issued-by-husbands-employer-was-community-property\/","title":{"rendered":"Texas Appeals Court Concludes Stock Issued by Husband’s Employer Was Community Property"},"content":{"rendered":"

There is a presumption that property possessed by a spouse during or on Texas marital dissolution is community property. A party claiming separate property must prove its separate character by clear and convincing evidence.\u00a0 Tex. Fam. Code \u00a7 3.003.\u00a0 In a recent case a wife appealed<\/a> the trial court\u2019s characterization of stock shares granted to the husband by his employer.<\/p>\n

Stock Shares<\/strong><\/p>\n

According to the appeals court\u2019s opinion, the parties got married in December 2006.\u00a0 The husband started a new job in February 2015 and the next year received a million shares of the company\u2019s stock.\u00a0 The husband stated he had entered into an agreement with the company when he received the stock, but could not find it and could not get a copy from the company. The stock certificates did not indicate why they were issued.<\/p>\n

The husband\u2019s employment contract provided that he would receive an annual salary of $100,000.\u00a0 Additionally, he would receive a signing fee, an additional payment upon the next fundraising event, and an annual payment for four years, as compensation for \u201cassets, access to \u2018[husband\u2019s] IP,\u2019 and inventory\u201d the husband provided pursuant to the employment agreement.\u00a0 The company also agreed to take on certain debts and liabilities the husband owed.\u00a0 The contract indicated the husband would receive \u201ca total compensation of over $750,000\u201d for the use of the husband\u2019s assets and intellectual property, without referencing the stock shares.<\/p>\n

Continue Reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

There is a presumption that property possessed by a spouse during or on Texas marital dissolution is community property. A party claiming separate property must prove its separate character by clear and convincing evidence.\u00a0 Tex. Fam. Code \u00a7 3.003.\u00a0 In a recent case a wife appealed the trial court\u2019s characterization of stock shares granted to […]<\/p>\n","protected":false},"author":11,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4,27,86],"tags":[],"class_list":["post-2749","post","type-post","status-publish","format-standard","hentry","category-divorce","category-property","category-separate-property"],"yoast_head":"\nTexas Appeals Court Concludes Stock Issued by Husband's Employer Was Community Property — Texas Divorce Attorney Blog — September 19, 2023<\/title>\n<meta name=\"description\" content=\"There is a presumption that property possessed by a spouse during or on Texas marital dissolution is community property. 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