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Grappling over those overlooked assets in divorce

On Behalf of | Mar 10, 2022 | Divorce |

The division of assets in divorce may bring additional animosity among couples. The home, the second home, the bank, investment and retirement accounts along with automobiles get the bulk of attention.

But couples, sometimes, overlook certain assets or, at least, overlook whether the other spouse has an emotional or financial stake in these assets. What will become of the family pets? Who will get the wine collection and the Seattle Seahawks season tickets?

Pets, season tickets and family photos

It is necessary to look beyond the obvious assets in divorce. Here are some assets that may get overlooked or the separating spouses make assumptions as to who will get them:

  • Family pets: Sometimes, the biggest fights are over the family pets such as dogs, cats and horses. One spouse may have assumed that he or she has dibs on the pet.
  • Private club memberships: These often provide certain social status for members. One spouse may want to continue to enjoy such memberships to country, tennis and swimming clubs.
  • Airline miles and rewards programs: You have built up a significant amount of airline miles for free trips in the future and find it hard to share them or let them go. And with your regular use of credit cards, you have earned lots of points for things such as airline and hotel bookings.
  • Season tickets: Some of them may have long-term sentimental value, but they also may have a significant monetary value. Who gets the Seattle Seahawks football tickets or the Seattle Mariners baseball tickets? Or the seats reserved for traveling Broadway shows and orchestra?
  • Collections: A wide array of assets encompass this category. They may include wine, jewelry, fine art, rare books and sports memorabilia.
  • Digital property: Family photos and videos stored on the computer should get attention. And do not forget cryptocurrencies.

Review every asset and do not make assumptions. Fight for what you want and let go of the things that may only complicate matters.

Keep, divide or sell

Whether or not you and your spouse overlooked these assets, you must make decisions. If some are non-marital property, they belong to either you or your departing spouse. However, with the marital property, you must work together to divide them or sell them.