In today's world, digital assets have increasing value in almost every aspect of people's personal and financial lives -- which means that they're also increasing in importance during divorces.
Marriage and divorce are as much about economics as they are matters of the heart. In fact, a lot of divorce attorneys encourage their clients to try to put their emotions on hold during a divorce and concentrate purely on the financial decisions that need to be made -- because the repercussions of a bad decision during a divorce can last for decades.
If you either have already inherited, or expect to inherit, any significant assets, it's important to consider how marriage -- and divorce -- could affect those assets. You risk losing them in divorce if you don't take steps now to protect them.
Most marital property has to be divided during the divorce process. That said, separate property is often protected from this division.
You and your spouse are going to get divorced. You don't have much, so the property division process seems simple. You'll sell the house, split up what you earn and easily divide your other assets.
You and your spouse bought a home together. You're both on the deed and the mortgage.
You are going to get divorced, and you don't know if you should keep your home or sell it. You love the house and don't really want to move, but you also don't know if just holding onto it is the best option.
Your marriage is ending. Dividing many of your assets seems clear: You can sell large items, like the home, and split the profits. You can split up smaller items between the two of you. Bank accounts and cash can be divided in half.
Every state has the right to determine how marital property ends up being divided once a couple decides to divorce.
Breaking up is hard to do -- but dividing the marital assets is often even harder. Unless you've been married for a very short period of time, you've probably accumulated a lot of stuff with your spouse over the years. Now you have to divide it.