When Georgia residents go through a divorce, there are many things to handle. Splitting up the marital assets is one task on both parties’ priority lists. Unfortunately, doing so isn’t always as easy as splitting up the house, cars, bank accounts and retirement funds 50/50.
A look at forgotten assets
Apart from the major assets above, a divorce will likely include some frequently overlooked assets. Some examples include restricted stock units, pensions, military benefits and cryptocurrencies like Bitcoin. Due to the nature of not using these assets every day, it can be easy to forget that you have them. However, a divorce is a time that you’ll need to think through everything that you and your former spouse acquired over the years, including both tangible and intangible assets.
Valuing these assets
These assets tend to be some of the hardest to put a fair market value on. Unlike a house or a car where you can look up the current value, many hidden assets aren’t that easy to put a price on. When these assets include things like restricted stock, you’ll need to be concerned with the future value of the asset over its current market value.
Most divorce courts will be able to provide you with assistance in determining an appraiser who can put a fair market price on the asset in question. You and your former spouse will need to pay the appraiser for their findings. This can create additional conflict during the divorce process, but it’s completely worth investing in to ensure that you get your fair share of all marital assets.
Over the years, you and your former spouse have likely accumulated a lot of assets. Trying to remember all of the intangible ones can be a bit difficult, to say the least. However, it’s worth taking the time to think about these overlooked assets as you want to be sure that you receive half of their value.
