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Don't forget these assets during divorce (PART 2)

In our last post we started a discussion on unique assets that one might not consider when going through divorce.

Another asset to consider is a term life insurance plan. Normal life insurance plans are obviously subject to division, but some might forget to include any term policies as part of divorce.

Do you travel a lot? If you or your spouse has a lot of travel reward program points, these are good to consider as property during divorce.

Some spouses may also consider dividing gifts that were given to each other during the marriage. If the gifts were given to each other before marriage, they will be considered separate property unless they were commingled somehow after marriage.

This may be a difficult one to consider, but it may be very important. Did you and your spouse buy a burial plot together? Chances are, you may no longer want to be buried together. The plot you purchased together should be discussed.

Make sure to also look into any benefits your spouse may have from a previous employer. This could include retirement accounts, restricted stocks or stock options.

We touched on tax refunds in the last post. It may also be wise to see if you have any capital loss carryover. This can happen if "capital losses exceed capital gains, and also exceed the tax deduction allowable for a single year." That loss can be carried over to the next year.

Finally, there may be other miscellaneous assets such a lottery tickets that were bought during marriage that are tied to winnings. It may also be important to consider keepsakes and photographs, which may be invaluable assets for some people.

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