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9 Assets You Might Forget to include in Your Divorce
While busy with including your most valuable assets like house, car, investments in your divorce, there are assets you might forget to include.
But, they can be no less important than your other major considerations enumerated above.
The reason behind you forgetting about some assets is that you might not consider them to actually be assets. However, they are!
Let us now look at some assets that people usually overlook during a divorce settlement.
1. Intellectual property
This includes but is not limited to copyright, patents, and trademarks as well as books that one of you has written.
2. Digital assets
Websites, online platforms, blogs, and sometimes even social media accounts with lots of followers can be assets. Social media accounts might not have value, but if a large number of followers can be used for business purposes, then these accounts can be assets too.
Note that movies, music, eBooks you have purchased online are assets as well.
3. Frequent flyer miles
If you or your spouse is traveling a lot, then you might have memberships in different airline programs. Additionally, memberships in any other loyalty programs are assets that the court should divide between you two.
4. Stock options from your employer
Stock options are another asset you might forget to include in your divorce. However, they DO have monetary value and can make the total value of your joint assets bigger.
5. Personal loans to friends or family
If you have made personal loans to family members or friends using marital funds, then the balance and interest should belong to both of you. In other words, loans are assets that the court should divide in your settlement.
6. Your pets
The great love toward your pet(s) might make it hard to decide whom they should belong to. In addition, if your pet is a particularly valuable species, you should include it in your assets’ lists.
7. Collections and souvenirs
Whether you have them in storage or on display in your home, collections, and souvenirs are also assets. These could include silver and gold coins, stamps, books, art, antiques etc.
8. Prepaid memberships
Whether it is a personal or a professional membership that you or your spouse has paid for in advance, you can view it as an asset. If you have paid for it using your marital funds then it must be divided between you two.
9. Lottery tickets
If during the marriage you have won a lottery ticket, then the winnings are assets.
Even if you think that these assets do not have value for you, they do have value in general. Adding these things to the assets’ list will increase the total amount of your shared assets. It means that your share will increase too. Also, they will help negotiate options. For example, if you are the one who loves different professional memberships, then maybe you could give a little back on the frequent flier miles. Thinking what matters to you more will help reach a settlement that will satisfy both you and your ex-partner.