A divorcing couple must worry about numerous matters. Factors including property division, parenting plans, spousal maintenance and debt responsibility can require several meetings geared toward negotiating a split. Unfortunately, digital assets have become a challenging prospect that many couples must face.
Depending on the types of digital assets a couple has worked to develop over the years, these properties can take numerous forms. For example, common online properties can include:
- Online presence: From blogs and images to video hosting sites and social networking, it is not uncommon for couples to devote significant effort to building an online presence. When the marriage ends, however, the couple must decide who continues which sites.
- Online storefronts: Like the above, the couple might have spent years cultivating an online presence in the form of a digital storefront. With outlets such as Facebook Marketplace and eBay, individuals can sell merchandise to people in their neighborhood or locations throughout the world. Giving up these customer relationships, positive reviews and a history of success can be difficult.
- Online currencies: Many online retailers offer customer rewards such as a cash back bonus, coupons, gift cards and airline miles. Depending on your shopping habits, this money can represent thousands of dollars in value.
- Entertainment collections: In recent years, couples have started amassing enormous digital entertainment collections that include books, movies, music and video games. As both parties likely contributed to it, this collection could be difficult to divide.
Property division has grown far from reaching a compromise about the home, vehicles and family business. Divorcing couples must carefully examine intangible financial assets such as deferred compensation, debt responsibility and digital property. It is wise to seek legal guidance to ensure your best interests are protected from start to finish.