we met with the attorney yesterday to fill out the final paperwork and he's going to file it on Sunday.
So, #1, we have $1100 of insider payments we know the trustee will want.
#2, my husband has a lot of stock options and restricted stock units that have a current cash value of about $3000 (before taxes) and the total potential value of $16,000 when they are all fully vested, etc. It's so stupid b/c some of them won't even be fully vested for another 4 years! So, the trustee could potentially keep the case open until all the options have been vested so that he can get the maximum value.
So, the attorney is going to try and say that they're not really worth what the potential value is b/c 1) the stock price can go down and 2) if he loses his job, everything is gone anyway...
I'm still so nervous about all this. The attorney said the trustee may bluff and try to get my husband to settle and buy the stock stuff back and if my husband says the trustee can have them, the trustee will most likely walk away. he said he's never had a trustee go after stock options like this except with one particular client and it was b/c he had a LOT of potential value. The attorney said since we have the stocks and the insider payment stuff, we'll be looked at even more closely. I also freaked out at schedule J, but the attorney said it was fine.
I guess we'll just have to wait and see, right? Will the presumption of abuse stuff show on pacer before the 341 or does all that happen after the 341?
So, #1, we have $1100 of insider payments we know the trustee will want.
#2, my husband has a lot of stock options and restricted stock units that have a current cash value of about $3000 (before taxes) and the total potential value of $16,000 when they are all fully vested, etc. It's so stupid b/c some of them won't even be fully vested for another 4 years! So, the trustee could potentially keep the case open until all the options have been vested so that he can get the maximum value.
So, the attorney is going to try and say that they're not really worth what the potential value is b/c 1) the stock price can go down and 2) if he loses his job, everything is gone anyway...
I'm still so nervous about all this. The attorney said the trustee may bluff and try to get my husband to settle and buy the stock stuff back and if my husband says the trustee can have them, the trustee will most likely walk away. he said he's never had a trustee go after stock options like this except with one particular client and it was b/c he had a LOT of potential value. The attorney said since we have the stocks and the insider payment stuff, we'll be looked at even more closely. I also freaked out at schedule J, but the attorney said it was fine.
I guess we'll just have to wait and see, right? Will the presumption of abuse stuff show on pacer before the 341 or does all that happen after the 341?
