When you are getting divorced, one of the main things you go through is the property division process. This may be the most significant and consequential aspect of your divorce.
You are probably prepared to divide the following assets:
- The family home
- Bank accounts
- Retirement plans
- Stock options
These may be the main points of contention during your split. However, there are plenty of other assets you should consider. Here are some assets that divorcing couples often neglect.
You or your spouse may be a member of country clubs or golf courses. While this may not seem like a substantial asset, these memberships can require hefty fees and annual dues. Do not leave memberships out of your negotiations.
Chances are you and your spouse have various digital assets, such as websites and digital photos. This is the reality of the twenty-first century. Make sure you think about all your digital assets and include them in your settlement.
Do either of you have any collections? The following items can have remarkable sentimental and financial value:
- Comic books
- Trading cards
Consider the memorabilia have displayed in your home and in storage.
One of you may have spent years racking up airline miles through credit cards or frequent flights. While you may assume frequent flyer miles are trivial, they can be worth hundreds or thousands of dollars. Whoever ends up with the airline miles may be able to enjoy some first-class adventures post-divorce.
You may have decided to be buried together when your marriage was thriving. However, your wishes are probably different now that you are breaking up. A cemetery plot may have notable value so be sure to account for it.
Be diligent in the asset division process so you do not lose out on anything.