Getting divorced is a big decision and the process is multifaceted. One of the key features of divorce is the division of property and assets.
Often, what comes to mind in property division is the family home, motor vehicles and bank accounts. While there is no denying the significance of these resources, there are numerous other assets that should not be overlooked. Outlined below are some of the most overlooked assets in the divorce procedure:
With advances in technology, it is only natural that couples possess a selection of assets in the digital form. These may include websites, digital photos as well as digital artwork. Such items are often highly valuable to a spouse, so it is important to include them in any divorce settlement.
Frequently, people collect items that they cherish. Often, collectibles include valuable artwork, antiques, books as well as an array of further memorabilia. Occasionally, collectible items are stored away for safekeeping. Be sure to include any collectible articles in your divorce settlement.
At first, travel rewards may seem like a trivial matter. However, for someone who has been a frequent flier for an extended period, travel rewards can amount to thousands of dollars. Having access to these travel options may be of significant value post-divorce.
You or your former spouse may be members of exclusive health clubs or golf clubs. Again, at first instance, matters like this may seem trivial. However, yearly memberships can cost a significant amount of money. These may warrant consideration in your final divorce settlement.
Considering all assets during your divorce is in your best interests. It is important to protect your legal rights throughout the divorce procedure.