Ending a marriage often means that many topics that a person has not thought of in a while may suddenly become vital. For instance, many Arkansas residents may not have given much thought over the years to how they would use their retirement funds or pension because they still had years, if not decades, before needing those funds. During divorce, however, those funds and others may be a top priority.
Focusing on these and other assets is common when ending a marriage because property division proceedings are such a critical part of most cases. Those involved want to ensure that they are getting their fair share and that their spouse is not trying to hide assets. However, even individuals who are doing their best to prepare may overlook assets that are not tangible or easily accessible.
The possibility of hidden assets or assets that go undisclosed may be a bigger issue in high-asset divorces, but they could happen to anyone. Some assets that parties may not immediately think of but should account for if applicable include:
- Pension funds that qualify as marital property
- Restricted stock that a company executive may hold
- Military benefits if one spouse is a servicemember who served at least 20 years
Locating assets and determining who is entitled to what can quickly become complicated. Even if none of these listed assets apply to a person’s situation, there is likely still a great deal to account for and divide when going through divorce. As a result, Arkansas residents may want to obtain assistance when looking for assets, understand their rights under state law and how they can fight for the outcome they desire.