Divorce attorneys in Wellington, West Palm Beach and other parts of Palm Beach County know that divorce judges in divorce court begin with a presumption that marital assets and liabilities will be divided equally between the spouses.
At the same time, family law attorneys acknowledge that individuals involved in divorces are “doing it themselves.”. These individuals may be overlooking certain assets in a divorce that have value and can be divided between themselves. Such assets may include:
- Security deposits (e.g.: utilities, car lease, leases for rental units);
- Frequent flyer mileage;
- Memberships in country clubs, health clubs or other types of clubs which may pre-charge membership fees;
- Income tax refunds;
- Income tax capital loss carried forward;
- Income tax charitable contribution carried forward;
- Hobby or collections of coins, art, pins and/or sports memorabilia;
- Affiliation “rewards” programs (points or discounts for credit card use);
- Burial plots;
- Hanger lease for air or sea craft;
- Hotel or credit card points;
- Small business retained earnings;
- Car insurance prepaid; and
- Taxes prepaid.
Obviously, many more such potential “hidden” or easily overlooked assetscan exist. Consequently, individuals involved in a divorce, even if they are representing themselves, may be well served by consulting with an experienced family law attorney.