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Think about these property types during the divorce

The property division process is often associated with big assets like the cars and homes. There are many more assets that you need to think about during this process. It is imperative that you go through everything in the home to determine what needs to be addressed. Here are a few starting points to get you going:

Take note of any valuable artwork, sculptures and similar items. These might prove to be worth a good deal, so you shouldn't just walk away from those items if there is a chance that you can make some money off of them.

You also need to take stock of any memorabilia or collectibles. These items might have value now but some of them might not reach their full potential for some time. If these are in the picture, they need to be addressed when you are dividing everything up.

Burial plots and funeral plans are also important. You might not want to be buried right next to your ex now, but you might be able to sell the plot. Alternatively, your or your ex might choose to buy the other one out of these assets.

Another thing to consider is the pets. Since pets are treated as property, you and your ex will have to determine who is going to get them. This is often a very difficult decision, but it is a necessary one if you are trying to get the divorce over with quickly.

You also have to think about things like marital gifts, club memberships and intellectual property. All of these need to be included in the property division settlement, so make sure you are getting a comprehensive list going.

Source: Forbes, "Divorcing Women: Don't Forget These Marital Assets," Jeff Landers, accessed Dec. 01, 2017

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