Hopfer v. Hopfer

757 A.2d 673, 59 Conn. App. 452, 2000 Conn. App. LEXIS 401
CourtConnecticut Appellate Court
DecidedAugust 22, 2000
DocketAC 19162
StatusPublished
Cited by16 cases

This text of 757 A.2d 673 (Hopfer v. Hopfer) is published on Counsel Stack Legal Research, covering Connecticut Appellate Court primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Hopfer v. Hopfer, 757 A.2d 673, 59 Conn. App. 452, 2000 Conn. App. LEXIS 401 (Colo. Ct. App. 2000).

Opinion

Opinion

SHEA, J.

The plaintiff, Janet G. Hopfer, appeals from the judgment of the trial court dissolving her marriage to the defendant, Richard A. Hopfer, Jr. On appeal, the plaintiff claims that the court improperly (1) found that the defendant’s unvested stock options were not marital assets and therefore not subject to distribution, (2) awarded nonmodifiable time limited alimony for a period of eleven years and (3) awarded an inadequate amount of alimony, that is, $72,000 annually for two [454]*454years and $48,000 annually for an additional nine years. We affirm the judgment of the trial court.

The court found the following facts. After eighteen years of marriage, the plaintiff brought a dissolution action against the defendant. The defendant then filed a cross complaint1 and, soon thereafter, the plaintiff withdrew her complaint. The cross complaint sought a dissolution of the marriage on the ground that it had irretrievably broken down, joint custody of the parties’ two children,2 an equitable distribution of the parties’ real3 and personal property, and such other relief, legal or equitable, as the court should deem proper.

On December 18, 1998, the court rendered judgment on the cross complaint, dissolving the marriage on the ground that it had irretrievably broken down4 and implicitly approving the stipulation of the parties for joint custody of the children, who are to reside with the plaintiff. The judgment provided that the plaintiff shall retain title to the marital residence as her sole property, but shall assume the mortgages and hold the defendant harmless from and indemnified as to them. The contents of the home were awarded to the plaintiff as her sole property. She also was awarded 50 percent of the defendant’s 401 (k) plans, valued at $80,087, and 50 percent of his 667 vested stock options from Viacom, which options on December 4, 1998, had a gross value of $19,343 before taxes.

The court found that from 1995 to November, 1998, the defendant was employed by Simon & Schuster, a [455]*455subsidiary of Viacom. He worked for Simon & Schuster for three years between 1995 and November, 1998.5 His salary was $219,000 per year with a bonus of up to 35 percent. In December, 1997, the parent company, Viacom, announced plans to sell Simon & Schuster. The defendant was offered a retention bonus of 50 percent of his base salary to stay with the company for a period beyond the date of sale. The date, however, was postponed several times, and the defendant became concerned about his future employment when the new management took over. In 1997, prior to the proposed sale, he had inquired about employment at Amazon.com, but he received no job offer.

In October, 1998, a year and three months after the plaintiff served her complaint seeking a dissolution of the marriage, the defendant was employed by NetSelect, Inc., located in Westlake Village, California. He was its chief information officer with a base salary of $170,000 and a target bonus of 25 percent. He also received options for 75,000 shares of stock at $6.31 per share, which vest at the rate of 25 percent per year with an initial vesting date of November, 1999.

The court also ordered the defendant to pay to the plaintiff, as nonmodifiable periodic alimony, $6000 per month for twenty-four months and $4000 per month for an additional nine years.6 The alimony is subject to sooner termination if the plaintiff remarries, either party dies or if ordered by a court.

The court also ordered the defendant to pay $480 per week to the plaintiff as child support for the two children until they both attain nineteen years of age or [456]*456sooner graduate from high school.7 The final paragraph of the judgment ordered the defendant to continue to maintain the existing life insurance policies providing $270,000 coverage for the plaintiff for as long as he is obliged to pay alimony to her and to provide the existing coverage for the children while he is obliged to pay child support.

The judgment did allow the defendant to retain his remaining assets consisting of life insurance having a cash value of $4010, a gold watch valued at $1500, a coin collection valued at $5000, and one-half of the furnishings with an estimated value of $12,500. For liabilities, the plaintiff listed $18,964 of credit card debt and the defendant listed $4050 of credit card debt and store charges.

The court also found, however, that the grant of stock options by NetSelect, Inc., to the defendant was made for future services to be performed after the final separation of the parties on September 3, 1996. Relying on Bornemann v. Bornemann, 245 Conn. 508, 752 A.2d 978 (1998), the court held that the NetSelect options were not marital assets subject to distribution pursuant to General Statutes § 46b-81.8 The plaintiff appealed from the court’s judgment. Additional facts will be discussed where necessary.

I

The plaintiff claims that the court improperly found that the defendant’s unvested stock options were not [457]*457marital assets and therefore not subject to distribution. She claims that the decision in Bornemann, on which the court relied in concluding that the NetSelect stock options were not a marital asset subject to distribution pursuant to § 46b-81, was not applicable in this case. We disagree.

“Our review is guided by the well established principle that [t]he resolution of conflicting factual claims falls within the province of the trial court . . . [and] [t]he trial court’s findings are binding upon this court unless they are clearly erroneous in light of the evidence and the pleadings in the record as a whole.” (Internal quotation marks omitted.) Bornemann v. Bornemann, supra, 245 Conn. 527.

The plaintiff argues that Bornemann does not apply because the defendant in the present case voluntarily left his job, whereas the defendant in Bornemann was involuntarily terminated. We conclude that the claimed distinction was not pertinent to the decision in Bornemann. In Bornemann, the court determined that unvested stock options could be considered marital property. Id., 518-20. It further concluded that to be considered marital property, the “court must determine whether an asset was earned prior to or subsequent to the date of dissolution in order to determine whether the asset is marital property. This approach is common in other jurisdictions that have considered the extent to which unvested stock options represent marital property for the reason that state statutes commonly distinguish between assets earned or acquired prior to separation or dissolution and assets earned or acquired subsequent to separation or dissolution. In determining when unvested stock options were earned, or will be earned, the purpose for which the options were granted [458]*458must be considered. Stock options may be awarded for a variety of purposes—including to compensate the employee for past or present services, or to provide an incentive for future service—that may or may not relate in whole or in part to the period of the marriage.” Id., 521-22.

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Cite This Page — Counsel Stack

Bluebook (online)
757 A.2d 673, 59 Conn. App. 452, 2000 Conn. App. LEXIS 401, Counsel Stack Legal Research, https://law.counselstack.com/opinion/hopfer-v-hopfer-connappct-2000.