Quatela Chimeri, PLLC

3 assets that often get overlooked in a divorce

Dividing your marital estate in a divorce is a complicated and sometimes frightening process. This can be especially true when you have substantial and/or sophisticated assets to consider. However, between you, your ex, your attorneys and any financial professionals hired, your assets should be properly accounted for and valued.

This is not to say that mistakes can’t be made. In fact, it is possible to overlook certain items no matter how many times you rack your brain and pore over financial statements. Below are a few of the commonly ignored or disregarded types of property that could wind up having a considerable impact on a divorce settlement.

  1. Rewards programs: This can include airline miles, hotel perks, cash back and other bonuses from credit cards and loyalty programs.
  2. Collections: Coin collections, action figures, nostalgic items and art can all have massive value, but they are often kept boxed up or hidden away in storage.
  3. Memberships: Belonging to a country club, golf course, gym or various arts organizations can be quite valuable to one or both parties.

These are just a few assets that people often and easily ignore in their divorce; for a longer list, you can read this Forbes article.

It is also important to note that these assets may be separate and therefore ineligible for division. However, if they carry value, you would still need to disclose them.

Should you have any questions about what is or is not considered marital property, or if you fear that certain assets have been left out of your divorce, it can be a good idea to talk to your attorney. With legal guidance and support, you can ensure your settlement is fair and accurate.

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