At the end of a marriage, you’ll begin to think about the assets you want to gain during a divorce. Marital assets are generally divided between individuals, but you have to know what those assets are before you can make a claim. Forgetting about any assets can make it difficult to claim them later, which is why you should work with your attorney to write down all the major and minor assets you are aware of.
Here are a few different kinds of assets that you may have forgotten about. For instance, capital loss carryovers are listed on your tax returns. These are used to reduce tax liability, so if you have one that should have been carried over to this year’s return, don’t forget about it.
Cemetery plots are another asset some people forget about. These plots are generally worth a lot of money, typically a few thousand dollars at least. While you may not want to be buried next to your ex, the value of that plot can be important in your negotiations.
Do you have any valuable collector’s items? Whether it’s silver coins, antiques, comic books or old toys, these collections can be of significant value. Make sure to negotiate to get in on the value of collections you owned together.
Membership fees are something else you may not have considered. Did you attend a gym regularly? Were you part of a country club? These fees can range in value, but if they were part of your lifestyle, they should be evaluated during your divorce. Your attorney can help you think of other possible assets you should negotiate.
Source: Forbes, “Divorcing Women: Don’t Forget These Marital Assets,” Jeff Landers, accessed June 17, 2016