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In Texas divorce, asset division may be complicated

Sunday, December 10, 2017

Dividing marital assets is among the most prominent of divorce proceedings. Those engaged in a Texas divorce know that dividing shared property and finances equally can be challenging. This is compounded when one must consider assets that are somewhat unorthodox -- for example -- frequent flyer miles.

While some people may not consider reward miles or other points programs to be that important in a divorce settlement, others understand the value of these rewards can sometimes be considerable. In some cases, a couple might be jointly earning rewards for years -- hundreds of thousands of redeemable points can carry a significant dollar value. There are several ways a couple can choose to divide those assets.

Some companies have a built-in divorce plan for their reward programs, often found in the terms and conditions. Others can be persuaded to divide the points into two existing accounts, one for each spouse. Finally, a couple can choose to assign a dollar value estimate to a point total and negotiate for an equal share in finances or property in exchange for the full point sum.

No matter what scenario is presented in a Texas divorce, asset division will always play a prominent role in any settlement. In order to ensure a quick and efficient divorce, it can be helpful to discuss asset division immediately and determine the best course of action to divide unusual assets equally. This can help smooth the road to a trouble-free divorce and allow each party to move on into their new lives with relative ease.

Source: Forbes, "Divorce: Who Gets The Air Miles?" Jeff Landers, June 26, 2013

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