Today, I am highlighting another feature of our New Jersey Divorce App, the Asset Identifier. While the “Finance Tracker” gives you the ability to input your more commonly identifiable assets such as your house, car, boat, bank accounts, the Asset Identifier does something a little bit different.
It is important when considering what each party will get in a divorce, to identify all of your assetS. This will guarantee you address all assets when dealing with settlement as well as monthly support payments. However, many people with oftentimes overlook some less than obvious assets.
With the Asset Identifier, you have the ability to go through a list of assets that some people do not even realize should be divided in equitable distribution. Eric Solotoff expounded further on what this may include in his February 2008 blog post – Hidden/Forgotten Assets.
For example, did you know that the following could be considered assets subject to equitable distribution in your divorce:
- Frequent flyer mileage
- Timeshare property
- Country club memberships
- Unused vacation or sick leave
- Many, many more…
The Asset Identifier provides you with a full list of items that you may not have even considered in checklist form. Once completed, you can then send it right off to your attorney so that he/she can make sure they are negotiating a complete and comprehensive settlement on your behalf.
For more information and to download the New Jersey Divorce App, click here.
______________________________________________________________________________ Eliana T. Baer is a frequent contributor to the New Jersey Family Legal Blog and a member of the Family Law Practice Group of Fox Rothschild LLP. Eliana practices in Fox Rothschild’s Princeton, New Jersey office and focuses her state-wide practice on representing clients on issues relating to divorce, equitable distribution, support, custody, adoption, domestic violence, premarital agreements and Appellate Practice. You can reach Eliana at (609) 895-3344, or firstname.lastname@example.org.