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Common assets overlooked during a divorce

Common assets overlooked during a divorce

The divorce process can be messy for some. Even if you knew it was coming, divorce involves a lot of emotions and can be a stressful and often chaotic experience.

Due to the nature of divorce for many people, it’s not uncommon to overlook certain assets. While you likely know you need to find a way to divide the house, vehicles and savings account, there are many other assets you may own and need to consider in your divorce proceedings. To ensure you don’t miss out on what you deserve, learn about some of the most forgotten assets in a Michigan divorce.

Family pets

You probably view your pets as a part of your family rather than an asset. However, even though they aren’t always worth much monetarily, most people are emotionally attached to them. It’s important to consider who will get and care for the pet after the divorce.

Shoes, clothing and jewelry

Most people will take their personal belongings in a divorce. However, if there are certain items, such as designer name items or expensive jewelry that was purchased in the marriage, the ownership and division of this need to be considered carefully. In some situations, an appraisal will be necessary to ensure the assets are split evenly or fairly based on the situation.

Credit card points or frequent flyer miles

If you have joint credit card accounts with your spouse, you may not think about the accumulated points or frequent filer miles. However, these are assets that need to be considered during the divorce.

Reviewing all your marital assets

The divorce process can be complex and confusing. While this is true, it’s important to take time to ensure you are considering all the potential assets you have. This is the only way to ensure a fair and equitable property division.

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