Marital Assets: What should be considered?
Many divorcing spouses give away their “fair-share” of a financial settlement by not knowing what the division of property includes and not understanding the present and future value of that property.
Marital property assets are considered to be anything that was acquired during the marriage and will be divided in the settlement. Your Certified Financial Divorce Analyst® CDFA™ will play an important role in the valuation of marital assets. A CDFA™ will analyze present value and potential for future appreciation. Primary marital assets include:
- Bank Accounts: Checking, Savings, CD’s (certificate of deposit)
- Retirement Accounts: IRA, Roth IRA, 401k, 403(b), 457, pension
- Family-owned business
- Investment accounts
- Stock Options
- Employer paid benefits
- Tax Refunds
- Homes and real estate
- Automobiles, motorcycles, motor homes, boats, airplanes…..
- Antiques and collections – jewelry, art, stamps, coins….
- Life Insurance cash values
- Frequent Flyer miles
Separate property owned before the marriage is not considered in the divorce. Inherited property that is acquired during the marriage, but never co-mingled with a spouse is also considered separate property and is not divided.
*Caution to any person considering filing a false declaration of assets: Falsifying or hiding assets may be cause for revisiting a divorce settlement agreement at a later date. It could be very costly.