Don’t Forget About These Assets in Divorce Property Division

1. Don’t Forget About These Assets in Divorce Property Division

2. Getting divorced and dividing property and assets can be very overwhelming. Property division in divorces is not the same as it used to be. You can do much better than dividing up such standard assets as homes, cars, bank accounts, and investments. There are many assets many divorcing couples in Florida forget about despite the fact that these assets can substantially benefit their financial situation after a divorce.

3. In fact, these overlooked assets go well beyond such assets as employee compensation plans, life insurance policies, retirement plans, stock options, brokerage accounts, and others. These assets are often divided when divorcing individuals are represented by lawyers.

4. The following assets are often forgotten about in divorce: 01 02 03 Collections and Memorabilia Intellectual Property Home Furnishing 04 05 06 Money Loaned to Others Marital Gifts Tax Refunds and Travel Reward Program Points

5. Collections and Memorabilia This goes well beyond the paintings in your house and art collections. Whether they are displayed in your house or collect dust in storage, there could be tons of valuable assets, including but not limited to books, wines, classic cars, comic books, antiques, stamps, rare gold and silver coins, sports memorabilia, and many others.

6. Intellectual Property Although not many married couples in Florida have those, it is nonetheless important to investigate whether or not your spouse has any trademarks, patents, copyrights, and royalty rights that could bring a substantial amount of money. Just because the intellectual property has not generated much money during the marriage, it does not mean that they will never generate any income.

7. Home Furnishing Even though home furnishing seems like one of the first assets you would divide in your divorce, surprisingly, many couples forget about it as they focus too much on the home itself. Depending on the size of your home and how much you have invested into home furnishing throughout the marriage, the home furnishing could be worth tens or hundreds of thousands of dollars or even more.

8. Many divorcing couples do not realize it, but the gifts purchased during a marriage are considered marital property by Florida law. So marital gifts can be split between the divorcing couples as long as you can establish that these gifts were purchased after you got married. It may seem unfair to some, but it makes sense why marital gifts are considered marital property. After all, even if a spouse gives a gift to his or her spouse, he or she technically used their joint income to buy it.

9. Money Loaned to Others Even an experienced property division attorney in Fort Lauderdale can forget about this one. And let’s assume that you are getting divorced before that someone pays back the amount. You need to make it clear in the divorce settlement agreement that the money that will be paid back to your spouse after the divorce is subject to division. For example, let’s assume that your spouse loaned someone $50,000 during your marriage.

10. Tax Refunds and Travel Reward Program Points Depending on when you are getting divorced, do not forget about pending or past tax refunds. These are considered marital assets under Florida law. Also, travel reward program points can be divided in divorce settlement negotiations as well.

11. Hire An Attorney “How do you divide the above-mentioned assets or put a dollar value on them?” you may be wondering. Good question. At The Law Office of Gustavo E. Frances, P.A., Gustavo E. Frances - an experienced divorce attorney in Fort Lauderdale handles an array of family law matters, including every aspect of a divorce action. For comprehensive and personalized legal services, he encourages you to speak with him during a free initial consultation.

12. Contact Detail Website https://www.lauderdaledefense.com/Contact.shtml Address Phone 200 SE 6th St #402, Fort Lauderdale, FL 33301 954-533-2756

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