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3 “hidden assets” not to forget during a divorce

On Behalf of | May 11, 2021 | Blog |

When you navigate a California divorce, you may concern yourself first with dividing up big-ticket items, such as any homes, vacation homes or retirement accounts you may have. Figuring out what to do with these significant assets is important. However, you want to make sure you do not focus exclusively on them while failing to consider other valuable assets you may have.

Many people in your shoes neglect to consider certain assets, either because they forget about them or because they may not know how to determine their value. If you want to make sure you receive your fair share in your divorce, you should consider whether you have any of the following often-overlooked assets.

Pensions

Once upon a time, pensions were commonplace. While they have become less common in recent years, you may still have rights to one if your spouse made his or her living as a state or federal employee.

Military benefits

If your marriage was a lengthy one and your spouse was a member of the U.S. Armed Forces, you may be able to retain access to military benefits after your divorce. To retain access to benefits after a divorce as a non-military member, your marriage to a military member must have lasted at least 20 years. Also, your spouse must have served at least 20 years in the military, and your marriage and the service term must have overlapped by at least 20 years.

Cryptocurrency

These days, it is not uncommon for spouses to own cryptocurrency, such as Bitcoin. Digital currency is not always easy to trace, but failing to consider digital assets may lead to a financial loss.

Do not expect your spouse to be forthcoming about the assets he or she has. If you suspect your spouse is not giving you the full story, you may need to enlist the aid of a forensic accountant or other professional.

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