Overlooked Assets in Divorce

During divorce proceedings, the court will typically require that a couple reach an “equitable division of assets” which means that the couple will have to split the property obtained during the marriage. Persons who fail to disclose all of their assets to the divorce court may completely lose the property in question if a judge decides to re-open the case.

There are many types of assets that may be overlooked in a divorce proceeding, so it is important to be thorough when considering shared assets. An experienced attorney may be able to help you identify commonly overlooked assets and make sure you receive what is rightfully yours. For assistance with your divorce case, contact the Austin property division lawyers of Slater Kennon & Jameson, LLP at 512-472-2431 today.

Commonly Overlooked Assets

When it comes to dividing assets, individuals should remember to consider:

• Security deposits on rental property
• Frequent flyer miles
• Stock options
• Timeshare units
• Educational accounts for dependents
• Royalties or copyrights
• Tax refunds for the current year
• Coin collections or other hobby collections

It is important to make a thorough list of all assets to be considered by the court before signing the divorce decree. While it may be difficult to determine the value of certain assets, it is important to disclose everything to the court. Failure to include all assets is against the law, and may result in complete loss of the property in question.

Contact Us

If you are considering filing for divorce and are concerned about the division of property, contact the Austin business lawyers of Slater, Kennon & Jameson, LLP at 512-472-2431 to discuss your case.