Dont Forget These Assets When Getting A Miami Divorce

Typically, when people end their marriages and start to divide up property

, they focus on the most obvious types of property. This usually includes the family home, cars, and marital bank accounts. However, there are also other things that you need to divide up when you are getting a Miami divorce. If you forget to deal with certain assets in the divorce process, you may end up getting less than your fair share of the marital property that you and your spouse earned or acquired during the course of your divorce.

Once your divorce agreement is signed, you may be unable to make changes if you later discover that you did leave something on the table. As such, you should always consult with a Miami divorce attorney for advice on making sure your divorce agreement is comprehensive. You should also review the following list of assets that might be forgotten during the process of dissolving your marriage.

Some assets that are often forgotten that you should be sure to include in your agreement include the following:

Retirement accounts. Depending on the length of your marriage, you may be entitled to receive a portion of retirement accounts or a portion of retirement benefits that have been earned by your spouse during the course of your marriage. Because retirement accounts typically shouldnt be liquidated and split up immediately, you can use something called a Qualified Domestic Relations Order- or QDRO- to allow you to get access to this retirement money during your own retirement.

Life insurance policies. When you have a life insurance policy and you divorce, this doesnt automatically mean that your spouse is removed as beneficiary from the life insurance policy. In fact, your former spouse will stay on as the beneficiaries no matter what (even if you get remarried or he/she does), unless you expressly contact your life insurance company and change the designated recipient of the death benefit.

Professional degrees. If you worked and put your spouse through school or otherwise contributed to your spouses education, then you may be entitled to receive some value of the professional degree that your spouse earned during the course of your marriage. Determining when and if you are entitled to receive compensation, and figuring out how much you should be paid for this asset, is one of the most complex issues in divorce law. You should always speak to a Miami divorce lawyer if you want your spouses professional degree to be treated as marital property.

Small businesses. If your spouse is running a business that you contributed to creating or that your spouse built up over the course of the marriage, you may be entitled to a portion of the value of the business. This is true for a variety of businesses including law firms and medical practices. Again, valuing the portion of the small business that is considered marital property and that you are entitled to can be a very complicated process.

Every couple is different and you may not have some of these assets in your marriage. If you do, however, it is very important that you address them at the time of your divorce.

by: Jeff Miller

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