What hidden assets may be uncovered during a divorce?

On Behalf of | Aug 13, 2021 | Family Law

If you are a resident of Georgia who is considering divorce, you have multiple decisions to make. One of these is the issue of dividing your assets. Some of those assets may be hidden, even if you don’t think of them as being so.

Restricted stock units

Restricted stock units are hidden assets that may be an issue if you or your spouse has an executive position in a corporation. Restricted stock may be part of the income for such a high-level job. These types of stocks are often considered future income and are connected with the individual’s company performance or length of time in their corporate position.

If you have restricted stock units, you may want to learn how to freeze them. However, if your spouse is the one with restricted stock, you will probably want to learn how to gain your share after the divorce.

Pensions

Pensions are hidden assets during a divorce if you or your spouse is a federal or state employee. A pension is considered future income, but you can only get an estimate of what to expect in the future. Your share after a divorce may also depend on how long you’ve been married to your spouse. An expert can determine the value of the pension.

Military benefits

Military benefits are another type of hidden asset during a divorce. Depending on the length of your marriage and how long you or your spouse served in the military, these benefits may be split between the two of you. For instance, if your marriage lasted at least 20 years and the serving spouse served for at least as long, the non-serving spouse can continue receiving benefits after the divorce.

Cryptocurrency

Cryptocurrency is considered a hidden asset. It can be challenging to trace and is still a newer type of money, which may require an expert to determine its value.

Keeping track of all your assets is a good way to avoid any surprises during a divorce. You’ll be prepared and will know what you’re entitled to after the split.

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