If you are facing divorce, you may be working on a list of assets as you approach the division of marital property. The basics come to mind, such as bank accounts, real estate holdings and valuable collections.
However, there are probably items you have not considered, perhaps because you may not think of them as assets. Here are five somewhat unusual items you might want to add to your list.
If you or your spouse purchased a winning lottery ticket during your marriage, the winnings are considered marital property. How about the season tickets your spouse always obtains for the Bengals football games? Those are marital property, too.
Your spouse is the golfer in the family, and you may not have used the country club membership he purchased except for going to the club for dinner occasionally. However, the annual dues are probably significant, and the membership constitutes an asset that should be on your list.
You have probably included your art and wine collections as assets, since you purchased them during your marriage. What about your spouse’s collection of rare baseball cards? This kind of memorabilia may have considerable value.
4. Travel rewards
Both you and your spouse have done a lot of business traveling, and between you there is a great collection of air miles. Such rewards make for luxury travel, and one of you will get to keep those travel points in the property settlement.
5. Cemetery plots
Since you and your spouse have decided to go your separate ways, you are probably not interested in spending eternity side by side. One or both of the cemetery plots may be up for sale, and distribution of the proceeds will be a subject for negotiation during the property distribution process.
The more assets you own, the more complex your divorce will be. An experienced family law attorney will tell you that there is always stress associated with the division of property, but a detailed list of assets, including those that are somewhat unique, will be very helpful in keeping the stress level down.