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Remember all marital assets when getting divorce

People in Tennessee who are getting ready to file for divorce might want to make sure that they remember all marital assets when coming up with a valuation of the assets that they share with their spouses. Of course, real estate, bank accounts, vehicles and other such assets instantly come to mind. However, there are other assets that might not be thought of immediately, but that can end up having a significant impact on the value of a couple's assets.

One asset that can significantly increase the value of a couple's assets is any retirement accounts that individuals have from previous employers. IRAs, pension plans, stock options and more are all negotiation in a divorce settlements since both spouses are entitled to them. Additionally, any country club memberships, golf course memberships and travel reward parts can also prove to be quite valuable in a divorce settlement. For instance, a spouse who travels a lot for work could benefit greatly from travel rewards points.

Collections and other memorabilia might also prove to be valuable in the future. Any copyrights or trademarks that a couple owns might not have made them much money in the past, but they could pay off in the future. Pets are also considered marital property, so custody of them should be negotiated as well. Also, any cemetery plots that the couple invested in when they were together might also need to be negotiated since they likely won't have plans of being buried alongside each other anymore following their divorce.

Divorce attorneys may assist people in filing for divorce and for coming up with a valuation of all their marital assets. They might also help them negotiate a division of their marital property with their spouses during their divorce settlements.

Source: Forbes, "Divorcing Women: Don't Forget These Marital Assets", Jeff Landers, October 16, 2013

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