[cs_content _p=’4975′][cs_element_section _id=”1″ ][cs_element_row _id=”2″ ][cs_element_column _id=”3″ ][cs_element_headline _id=”4″ ][cs_content_seo]High Asset Divorce\n\n[/cs_content_seo][cs_element_text _id=”5″ ][cs_content_seo]Divorce under any circumstances involves emotional and financial risks, and parties to dissolution of a marriage need legal counsel to see that all matters are addressed appropriately.However, if your marital estate is large or complex, it is critical that you are represented by a firm with the additional resources and experience necessary to promote and protect your interests before, during, and after your divorce.\n\n[/cs_content_seo][cs_element_headline _id=”6″ ][cs_content_seo]What qualifies as an asset in divorce?\n\n[/cs_content_seo][cs_element_text _id=”7″ ][cs_content_seo]While not an exhaustive list, here’s an idea of things that can be included; some may come as a surprise, such as airline miles or a Professional Degree.\n\n[/cs_content_seo][cs_element_text _id=”8″ ][cs_content_seo]Your House
Any rental property
Retirement accounts
Bank accounts
Pensions
IRA’s
Stocks
Your business/es
Life Insurance
Rare coins/stamps /collectibles /memorabilia
Jewelry
Wine/ Alcohol
Antiques
Horses
Books
All monies, including digital ones such as Bitcoin
Cars and other vehicles
Boats
Furniture and other home furnishings
Electronics (TV, computer)
Appliances
Airline miles
Professional licenses
The stuff in the junk drawer you haven’t seen since you were newlyweds
\n\n[/cs_content_seo][cs_element_headline _id=”9″ ][cs_content_seo]Unexpected Divisible Assets\n\n[/cs_content_seo][cs_element_text _id=”10″ ][cs_content_seo]Everyone thinks of bank accounts, vacation homes, stocks, bonds, retirement annuities, and other traditional assets. But when it comes to the division of property, many unexpected assets in a divorce are often overlooked.
People frequently leave potentially valuable items on the table because they simply don’t think about them or their worth.
With that in mind, here is a collection of unexpected divorce assets that often go overlooked when ending a marriage:
Airline Miles
Many of us have credit cards where we earn airline miles or similar rewards every time we swipe. They’re convenient and come in handy for trips and vacations. And if you acquire them during a marriage, the court considers them marital property and subject to allocation.
The actual division can be difficult. Some airlines assign a dollar value to miles; others don’t. This complicates things when it comes to establishing their worth. Whether or not your particular program allows an account to be divided also plays a role.
Collections/Memorabilia
People collect everything. If it exists, there’s probably an enthusiastic collector out there.
Comic books.
Baseball cards.
Stamps.
Wine.
Sports memorabilia.
Coins.
Antiques.
Even the toys that come in a McDonald’s Happy Meal.
These collections often have great sentimental importance. Beyond that, they may also have a substantial monetary value. Depending on when you acquired them, these items factor into your divorce settlement.
Cemetery Plots
It may sound morbid to consider the value of cemetery plots in a divorce, but have you priced them lately? They don’t come cheap.
Since you likely don’t want to be buried next to your ex, unless we’re talking about a remarkably amicable split, this is one to put on the chopping block.
Plots carry a substantial price tag. They can be an unexpected divorce asset you shouldn’t overlook when it comes to the division of property.
Intellectual Property
It may be tricky to assign a value to, but intellectual property also plays a role in divorce settlements.
This includes everything from copyrights and patents to trademarks and more. They may not always be huge revenue makers, but they could be in the future, or you may simply want to hang onto an idea you had.
As with other items on this list, timing plays a role in how the court divides these.
For example, if you receive a patent early on in a marriage, but you did all of the legwork before the wedding, it may count as separate property. But if you derive a significant amount of money from it during the marriage, that may also be subject to division.
Loans to Other People
Loaning money to friends and family can be a dicey proposition. Many of you have “loaned” someone money when you know you have no hope of getting it back. At least not anytime soon.
That said, money loaned during a marriage sometimes comes into play while you hash out a divorce settlement. For instance, if your ex loaned her brother $ 5,000 from joint funds while you were married, the repaid amount can often be divided.
Memberships
You may not think of a country club membership as a shared asset, but it just might be.
You may not even golf, but country clubs, associations, and memberships like this often charge large sums, hundreds of dollars a month in some cases, to join and maintain that connection.
Some clubs have specific guidelines for divorcing members, though many will honor the couple’s ultimate decision. In some cases, you may have to re-apply for membership. Like other assets, you and your spouse will have to negotiate the terms and decide on how to divide the value.
This is far from an exhaustive list of unexpected assets. We could go on and on. People have and will continue to fight over the most seemingly insignificant items in a divorce.
More than anything, this illustrates why you should pay attention to the details during a divorce. You may miss out on substantial items or vital bargaining chips because their worth simply isn’t as immediately obvious as others.\n\n[/cs_content_seo][/cs_element_column][/cs_element_row][/cs_element_section][cs_element_section _id=”11″ ][cs_element_row _id=”12″ ][cs_element_column _id=”13″ ][cs_element_global_block _id=”14″ ][/cs_element_column][/cs_element_row][/cs_element_section][/cs_content]