What about the 200 shares $30 a share

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Reference no: EM133478508

Question 1. Do the following clauses improperly facilitate divorce? Are they collusive? .

"In the event that the wife files for a divorce, legal separation, or annulment, the husband agrees to cooperate fully in the wife's action."

"In the event that the wife files a divorce action, the husband will pay in advance all expenses incurred by the wife in bringing said action."

Question 2. Karen and Jim obtain a divorce decree that awards Karen $500 a month in alimony until she dies or remarries. A year after the divorce decree became final, Karen marries Paul. Jim stops the alimony payments. A year later, Karen's marriage to Paul is annulled. Karen now wants Jim to resume paying her $500 a month in alimony and to pay her $6,000 to cover the period when she was "married" to Paul ($500 × 12 months). What result?

Question 3. Before Mary married Charles, she owned 100 shares of stock valued at $20 a share. During the marriage, the company in which the shares were owned executed a stock split. (In a stock split, each individual share is split into a larger number of shares without changing the total number of shareholders.) Her 100 shares turned into 200 shares valued at $30 a share. Was the 100 shares @ $20 a share separate or marital property? What about the 200 shares @ $30 a share?

Question 4. Elaine has worked as an executive at ABC Company for twenty years. When she was laid off, she received a substantial severance package. Would the package be subject to property division if she divorced at the same time she was laid off?

Reference no: EM133478508

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