When you file for divorce, you and your spouse must separate your lives and your finances. This can be particularly difficult if you have been married for a significant number of years or if you have a significant number of properties and assets. But what is considered an asset when you divorce?
An asset is essentially anything of value – from a car that you use to get to work to a piece of art that you bought together to a 401K that you have been contributing to for the last decade. Even the most amicable divorces can be strained during the division of property, which can include the consideration of the following assets:
- Retirement plans and pension plans
- Stocks and investments
- Homes, vacation homes, land and other property
- Cars, boats, and other vehicles
- Checking and savings bank accounts
- Some businesses, such as a family business
- Art, antiques, jewelry, and collectibles
- Cash and bonuses
- Any other item or account of value
Browse our legal articles about asset division for an in-depth look at how to divide these assets.
Especially if you have a considerable number of properties or assets, and even if you are splitting just a few important items such as your home and vehicle, it is important that you receive your fair share during the divorce process. A Seattle divorce attorney can help you better understand the division of property and how to secure the assets that are most important to your future and comfort.