Jones

After a court trial in a marital dissolution action, the court entered judgment regarding the character and disposition of certain property of the parties. On appeal, the husband contends that the trial court erred with regard to wife’s severance pay, certain stock options, and a diamond ring. We find no error by the trial court with regard to wife’s severance pay and the stock options, but reverse the judgment with regard to the diamond ring.

*1453 I. Facts

A. Procedural Background

Petitioner Buff Jones and defendant James Mark Steinberger were married on April 30, 1988. They separated on June 14, 1997, after a marriage of 9 years and 1.5 months. The parties have one minor son, born in January of 1996. A status-only dissolution of marriage was filed on December 28, 1998. Later, some of the parties’ financial issues were handled by agreements reflected in a stipulated judgment filed on August 13, 1999. Other issues were handled in a court trial, which included the testimony of both parties and other witnesses. The trial was concluded on February 5, 1999, and the resulting judgment was filed on September 2, 1999. The judgment included provisions regarding (1) Buff’s…