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What are your most valuable assets?

As you prepare for the divorce process, it's natural to second guess your decision and have concerns about the future. Even if you weren't happy in your marriage, you may have had financial stability. And that's not something that's easy to give up.

However, life's about more than money, so you realize that divorce is the best way for a fresh start.

There's a good chance that you jointly own some valuable assets with your soon to be ex-spouse. While you won't retain all of these in your divorce, you have the legal right to some of them.

Every marital asset is important, as it is subject to property division. However, some will require more of your attention than others, namely those that are worth the most.

Here are some of the most valuable assets that often come into play in divorce:

  • Family home: Not only is it valuable, but it also has the potential to be a sticking point if you have children together.
  • Motor vehicles: This includes cars, motorcycles, boats and recreational vehicles.
  • Bank accounts: Liquid funds, such as cash in bank accounts, are coveted in divorce.
  • Retirement accounts: These accounts have the potential to be larger than your bank accounts, especially if you're in the latter stages of your career.

A clear understanding of your most valuable assets, including their estimated values, will provide you with some direction as you prepare for and move through the divorce process.

Property division has the potential to slow things down and cause tension, but don't give up and hope for the best. Do whatever it takes to protect your legal rights.

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