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. “Changes in executive pay are throwing a massive wrench into the works of family law across the country,” said Frank Glassner, chief executive officer of Veritas Executive Compensation Consultants LLC in San Francisco.
Divorce settlements for executives such as bankers who rely on bonus payouts are becoming harder to negotiate as some firms give employees less cash and more long-term incentive awards including restricted stock and deferred money. That makes the bonuses more difficult to value and divide, said Eleanor Alter, a New York-based divorce attorney.
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