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How are unvested stocks treated in CH 7 in CDCA?
I would add that if vesting is contingent on future employment the ratio should be more favorable towards stock that is not property of the estate.
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Sent from my iPhone
> On Apr 28, 2016, at 7:43 AM, 'Steven B. Lever' sblever@leverlaw.com [cdcbaa] wrote:
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> They have future value based in part upon prepetition events (length of service)
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> Steve Lever
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> Sent: Wednesday, April 27, 2016 8:47 PM
> To: cdcbaa@yahoogroups.com
> Subject: Re: [cdcbaa] How are unvested stocks treated in CH 7 in CDCA?
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> I think I disagree. If we value assets as of the date of filing, how do these invested stocks have any value? They are unvested.
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> Desiree Causey
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> 7755 Center Avenue, Suite 1100
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> Huntington Beach, CA 92647
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> 714-372-2225
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> Sent from my iPhone
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> On Apr 27, 2016, at 8:14 PM, 'Steven B. Lever' sblever@leverlaw.com [cdcbaa] wrote:
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> Yes Holly, I think thats how a Trustee would look at it.
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> That assumes the debtor/employee stays employed the 24 months and everyone waits for the full vesting.
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> I have a case I settled with the Trustee on multiple vesting schedules similar to that.
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> Hopefully some of it is exempt if you take the 703s
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> Steven Lever
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> sblever@leverlaw.com
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> Sent: Wednesday, April 27, 2016 5:12 PM
> To: cdcbaa
> Subject: [cdcbaa] How are unvested stocks treated in CH 7 in CDCA?
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> Do we value the stocks like this:
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> The percentage that is vested is estate property, and the percent not vested is not?
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> For example, if a stock takes 24 months to vest and we are on month 16, (16/24 2/3) then do I multiply the present value of the stock by 2/3 to get the value of the estate property (which I can then exempt)? And then the remaining 1/3 is not estate property?
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> --
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> Holly Roark
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> Certified Bankruptcy Specialist*
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> and Sports Lawyer
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> holly@roarklawoffices.com **primary email address**
>
> www.roarklawoffices.com
>
> Central District of California & District of Idaho - Consumer Bankruptcy Attorney
>
> 1875 Century Park East, Suite 600 Los Angeles, CA 90067
>
> T (310) 553-2600; F (310) 553-2601
>
> *By State Bar of California Board of Legal Specialization
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The post was migrated from Yahoo.
I think I disagree. If we value assets as of the date of filing, how do these invested stocks have any value? They are unvested.
Desiree Causey
7755 Center Avenue, Suite 1100
Huntington Beach, CA 92647
714-372-2225
Sent from my iPhone
> On Apr 27, 2016, at 8:14 PM, 'Steven B. Lever' sblever@leverlaw.com [cdcbaa] wrote:
>
> Yes Holly, I think thats how a Trustee would look at it.
>
>
>
> That assumes the debtor/employee stays employed the 24 months and everyone waits for the full vesting.
>
>
>
> I have a case I settled with the Trustee on multiple vesting schedules similar to that.
>
>
>
> Hopefully some of it is exempt if you take the 703s
>
>
>
> Steven Lever
>
> sblever@leverlaw.com
>
>
>
> Sent: Wednesday, April 27, 2016 5:12 PM
> To: cdcbaa
> Subject: [cdcbaa] How are unvested stocks treated in CH 7 in CDCA?
>
>
>
>
>
> Do we value the stocks like this:
>
>
>
> The percentage that is vested is estate property, and the percent not vested is not?
>
>
>
> For example, if a stock takes 24 months to vest and we are on month 16, (16/24 2/3) then do I multiply the present value of the stock by 2/3 to get the value of the estate property (which I can then exempt)? And then the remaining 1/3 is not estate property?
>
>
>
>
>
>
>
>
>
>
>
> --
>
> Holly Roark
>
> Certified Bankruptcy Specialist*
>
> and Sports Lawyer
>
> holly@roarklawoffices.com **primary email address**
>
> www.roarklawoffices.com
>
> Central District of California & District of Idaho - Consumer Bankruptcy Attorney
>
> 1875 Century Park East, Suite 600 Los Angeles, CA 90067
>
> T (310) 553-2600; F (310) 553-2601
>
> *By State Bar of California Board of Legal Specialization
>
>
>
>
>
The post was migrated from Yahoo.
Do we value the stocks like this:
The percentage that is vested is estate property, and the percent not
vested is not?
For example, if a stock takes 24 months to vest and we are on month 16,
(16/24 = 2/3) then do I multiply the present value of the stock by 2/3 to
get the value of the estate property (which I can then exempt)? And then
the remaining 1/3 is not estate property?
Holly Roark
Certified Bankruptcy Specialist*
*and Sports Lawyer*
holly@roarklawoffices.com **primary email address**
www.roarklawoffices.com
*Central District of California & District of Idaho* - Consumer Bankruptcy
Attorney
1875 Century Park East, Suite 600 Los Angeles, CA 90067
T (310) 553-2600; F (310) 553-2601
*By State Bar of California Board of Legal Specialization
Do we value the stocks like this:The percentage that is vested is estate property, and the percent not vested is not?For example, if a stock takes 24 monthsto vest and we are on month 16, (16/24 2/3)then do I multiply the present value of the stockby 2/3 to get the value of the estate property (which I can thenexempt)? And then the remaining 1/3 is not estate property
The post was migrated from Yahoo.