Finding A New Path Forward

3 types of property that can be difficult to divide in divorce

On Behalf of | Aug 17, 2021 | Property Division |

Divorce represents the end of one life and the beginning of an independent future. While this process can be exciting, it can also be stressful and emotionally turbulent to work through numerous negotiations. The couple must reach compromises regarding child support, parenting time, spousal support and property division.

While some assets are relatively easy to divide, some types of property can be challenging, including:

  • Digital assets: Over the last few decades, digital assets have become a much larger part of life for most couples. From digital movies and music to online currencies and digital storefronts, most people spend a significant amount of time on the Internet. In general, the couple will also share numerous websites whether they are blogs, social media accounts, picture-hosting or video-hosting. Much like physical assets such as a house or car, the couple must value and divide these digital assets.
  • Income properties: While the real estate itself carries a value, the divorcing couple must thoroughly examine the future earning potential of the property. In many ways, this can be likened to the business valuation of a company. Once the couple decides on the potential earnings, they can divide the income property through the divorce process.
  • Financial packages: While certain finances such as a bank account and stock options are more tied to a definitive figure, some are more fluid. Deferred compensation packages, for example, or retirement funds might be challenging to evaluate and ensure both parties receive a fair split through the property division process.

There is a largely intangible value tied to all these assets. From those that have only an online presence to those whose value requires future earnings, couples must take the time necessary to reach an agreement about the value and how they agree to divide the assets.