When you’re going through a divorce, the division of the marital estate can take precedence over all – especially for affluent couples whose children are grown.
It’s easy for some assets to slip through the cracks when people focus on things like the family home, the cars and the bank accounts. Here are a few often-overlooked items that you can’t afford to ignore:
1. Retirement accounts
Retirement accounts can represent a big portion of a couple’s wealth, and failing to consider the long-term implications of these funds can lead to financial imbalances after the divorce is final. It’s essential to look at 401(k) plans, individual retirement accounts (IRAs) and pensions to determine each spouse’s fair share.
2. Stock options and restricted stock options
Spouses in executive positions may have both stock options and restricted stock units (RSUs) that are hard to currently value – but they will become valuable with time. It’s important to look at their vesting schedule and future potential value when dividing marital assets.
3. Frequent flyer miles and reward points
If either spouse travels often and uses their credit card a lot, the value of the rewards they have accrued can vastly outweigh any debts. Figuring out how to calculate those frequent flyer miles and reward points into the divorce settlement may take some careful financial maneuvering.
4. Digital assets
Digital assets are sort of the “new kid on the block” when it comes to marital assets, which is why they often get overlooked. These can include intellectual property like domain names, patents and trademarks, as well as cryptocurrencies, websites, monetized blogs and e-commerce stores that generate passive income.
When you have complicated assets, you need experienced legal support for your divorce. Seeking early guidance is wise.
