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Do not neglect these assets in your divorce

| Feb 25, 2019 | Firm News

When you are getting a divorce, you are most likely concerned with the most obvious assets, such as the house, vehicles, investment and retirement accounts and business interests. While valuing and dividing these marital assets is crucial, there are plenty of other assets that you should not forget to include in the settlement.

Many divorcing couples neglect certain assets only to regret it later. If you make the same mistakes, you can lose out on valuable and sentimental assets. Here are some notable assets to account for in your negotiations.

Collectible items

If you or your spouse have any sort of memorabilia, make sure to consider it. What may seem like a quirky collection can actually be worth a lot. Common collectibles include coins, books, stamps, antiques, art, sports memorabilia and comic books. These things are important, especially if you have included them in your homeowners insurance policy.

Pets

Most states, including Florida, see pets as personal property in divorces. This means there is no custody arrangement regarding your beloved dog or cat. If you want to be the caretaker of your pet, make sure you prioritize this in your discussions. The courts often assign pets to the person who has a history of taking care of the animal and has a flexible schedule.

Exclusive memberships

If either of you belongs to a country club or golf club, keep it in mind. Chances are you used marital funds to cover any fees and dues; therefore, the court will consider the membership a marital asset.

Cemetery plots or cremation vaults

It is common for married couples to prepare for what happens when they die. Perhaps you chose to be buried next to your soon-to-be ex-spouse. Your desires are probably different now that you are splitting up. You should determine what happens with these plans sooner rather than later.

Make sure you make a comprehensive list of all your assets so you get a fair division in your Florida divorce.

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