When you are going through a divorce, you might already know that you are going to have to divide assets like the house and the cars. What you might not be prepared for is having to split up some of the less common assets. These are just as important but aren’t usually thought of since they are smaller than the house.
Besides the house, your retirement accounts might be your largest asset. The way that this is divided might prove to be complex because you have to determine the value of the accounts. This doesn’t mean what they are worth right now. Instead, you must think about what they might be worth in the future. You also have to look at what they are worth right at the time of the divorce.
Another asset to think about is cemetery or burial plots. These can sometimes amount to a lot of money. You probably don’t want to be buried next to your ex, so saying you will keep one plot while your ex keeps the other probably isn’t an ideal solution to this. Instead, one person will likely need to keep both or you might opt to sell them. While you are looking at this, think about funeral plans and life insurance policies.
Finally, don’t forget about collections that you’ve amassed. Chances are good that your prized collections of memorabilia aren’t going to be worth much if you split them up. Instead, it might be best for one spouse to take the collection and the other one to buy it out or to just sell the entire thing and split the money.
Source: Forbes, “Divorcing Women: Don’t Forget These Marital Assets,” Jeff Landers, accessed April 19, 2018