If you have decided that divorce is inevitable, you and your spouse will soon be facing the task of dividing your marital property. This is not an easy task, and it is a good idea to begin compiling a list of assets you believe will qualify.
The first items that come to mind will probably be things such as real property and bank accounts. However, as you delve further into the assets you have accumulated during your married life, some you had not considered initially will surely turn up. Here are a few you might want to list:
Intellectual property rights
The gardening tools your spouse patented have not sold well, but they might in the future with proper marketing. Patents, trademarks, copyrights and rights to royalties are among the intellectual property rights that are subject to division
Club memberships
You may not have much of an interest in golf, but the country club membership your spouse purchased has considerable value. You must also pay annual dues, so add this and any other memberships to your list.
Collections
You know your fine art collection will be part of the property division, but what about those baseball cards your spouse has been collecting for years? The collection includes a card signed by Roger Maris, among other notable pros. Add the baseball cards to your list.
Lottery tickets
If you and your spouse purchased a winning lottery ticket during your marriage, the proceeds are marital property and subject to division.
Cemetery plots
If you both own cemetery plots next to one another which you purchased during your marriage, add these to the list. Chances are one of you will want to consider different accommodations now that you are divorcing.
Pets
Pets are property. If keeping Fido or Fluffy is a priority for you, let your attorney know.
Moving forward
Your attorney will review your list to ensure it includes all the pertinent assets and that any property you acquired separately is not in with marital assets. The division of property is very important. You will win some points and lose others, but in the end, this part of your divorce proceeding is all about equitability as you move forward into a new chapter in your life.
