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Remember to list these 6 items when facing property division

If you are heading for divorce, you may be putting together a list of assets in preparation for the property division phase of the proceeding.

You undoubtedly listed the usual items, such as your home, bank accounts, investments, vehicles and even your pets. However, here are six items you might not think of as assets that should be considered as well.

1. Memberships

As a couple, you and your spouse may have had a country club or golf club membership for years. You might also have a fitness club or some other type of membership. These can represent considerable value and if purchased during your marriage, will qualify as marital assets.

2. Memorabilia

You may have listed your art and rare pottery collections as assets, but what about that stack of old comic books stored in the garage? There might also be sports memorabilia, like baseball cards or an autographed jersey. Add items like these to the list.

3. Intellectual property

Do not forget about intellectual property like copyrights, royalty rights, trademarks or patents. These should become part of your settlement agreement.

4. Photographs

Sharing family photos and keepsakes should be relatively easy because of digital photography, which can provide both you and your spouse with the full collection. If you have old photos and negatives, you might consider sharing the cost of having them copied.

5. Reward program points

One of you may have traveled for business—or perhaps both of you have—and there are considerable reward program points available. This is an asset that could represent some great luxury travel.

6. Cemetery plots

Cemetery plots have considerable value. However, since you are divorcing, you will probably rethink the idea of being buried next to one another.

Sharing your list

The attorney who handles the divorce will appreciate your being well-organized. If you are preparing a list of assets, you will want to give a copy to your attorney and keep one for yourself. If your list includes some of the less obvious marital assets, be sure to indicate which of them you value most. Some, like the cemetery plot and the reward program points, will likely be subject to negotiation during the property division process. 

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