Divorce is often an emotionally charged process, but it’s also a logistical and financial one. As couples work through dividing their shared lives, they typically focus on obvious assets like the house, vehicles and joint bank accounts.
However, some valuable assets are easy to overlook during this process. Failing to identify and address them can lead to an unfair settlement or missed opportunities for financial stability after the divorce.
1. Retirement accounts and pensions
Retirement savings are frequently misunderstood or undervalued in divorce proceedings. One party may assume that because the account is in their name, it’s off limits to their spouse. In reality, these accounts are often considered marital property if contributions were made during the marriage.
Dividing retirement funds can be complex and usually requires a Qualified Domestic Relations Order (QDRO) to avoid tax penalties. Even pensions that haven’t started paying out yet should be evaluated and considered.
2. Digital and intellectual property
Digital property like websites, blogs, e-commerce accounts or even social media channels with monetized content can hold real value. Similarly, intellectual property such as copyrights, patents and trademarks can generate ongoing income or have significant long-term worth.
These assets are easy to forget or underestimate, particularly if only one spouse was actively involved in creating or managing them. During a divorce, it’s important to identify any digital or intellectual property that may be producing income or has potential value.
3. Loyalty points and memberships
Frequent flyer miles, hotel reward points and other loyalty programs are often overlooked but can be surprisingly valuable. Some programs even allow the points to be transferred or split during a divorce. Memberships to clubs, golf courses or timeshares can also represent a financial asset or liability. These items may not be front of mind, especially during a stressful separation, but their worth can add up quickly.
Dividing assets in a divorce involves more than just the big-ticket items. Taking a comprehensive look at all shared and individual holdings and enlisting dedicated legal guidance can help ensure that no valuable asset slips through the cracks.
