Restrictions on U.S. executives’ bonuses are complicating divorce settlements, increasing legal bills and raising the prospect that some may have to transfer children out of private schools or sell second homes.
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Glenn Liebman, a certified public accountant in Woodbury, New York, said his clients used to be paid base salaries of $250,000 with cash bonuses from $3 million to $6 million, which went toward alimony and child support payments in a divorce. Those executives now may receive only a portion of their bonuses in cash and the remainder in stock that’s tied to share performance that may not vest for up to five years, Liebman said.
“Changes to compensation are creating a horror show when dealing with the other spouse’s budget and support package for children,” said Liebman, a partner at Klein Liebman & Gresen, LLC, which values businesses and assets.
Somebody call a waaaaaambulance! Prissy little miss has to drop out of St. Alban's Prep and enroll in P.S. #139 because Mommy can't get her manicured paws on Daddy's bonus. I have no sympathy for these dweebs because karma is finding a way to stick it to all of them for their arrogance. Hey preppies, I'll be happy to buy your country club membership from you for a buck fifty if you're that hard up for cash.
