It is well known that when parties divorce, there will be an equitable distribution of the marital assets and debts that the parties acquired during the marriage. Many people also know that it rarely matters whose name that the asset or debt was acquired in.
I cannot stress enough that the preparation of a financial statement, or a Case Information Statement, is perhaps the most important step of the entire divorce process. Getting bank balances and mortgage payoff statements is easy, and tasks that no one thinks twice about. However, there are other assets, or benefits in a marriage that are easily overlooked, and can result in an inequity to a spouse if not considered.
Most of us have a credit card (or two, or three) that accumulate miles which can be traded in for airline tickets, hotel points, or some ability to trade points for something of value.
Continue Reading Counting the Miles (And Other Hidden Assets in Divorce)