There are many items to argue over during a divorce. A high-asset divorce involves particularly difficult conversations about property division due to the large number of assets involved. Just some examples of typical division of property disputes include the division of real estate, bank accounts, business assets and retirement plans.
However, as many California residents know, there are also certain possessions of a personal nature that many spouses hesitate to put into the property division process during separation. However, hiding assets in a divorce, even personal items, can have serious consequences.
One unusual example of such possessions was highlighted in a recent article that focused on some of the most unusual objects fought over in divorce.
Specifically, a successful poker player who divorced her husband is now in a dispute over her designer shoe collection made up of some 1,200 pairs. The ex-husband has brought suit three years after the divorce alleging the expensive shoe collection was hidden from him before and during the divorce. He values the collection at $1 million and demands 35 percent of its worth.
Other interesting items vehemently sought after during a divorce include a butcher block, artwork and an exercise bike. While efforts to obtain these items may seem odd, these items often come with a hefty price tag.
During the divorce process in California, it is crucial separating spouses are honest about revealing all relevant items during the property division process. If the required revelations are not made, subsequent lawsuits may follow.
However, it is also important to know what items are not privy to divorce considerations. Some pre-marital property, in particular, is not subject to property division considerations. Accurate and up-to-date knowledge on laws pertaining to property division is imperative in obtaining a smooth and fair divorce.
Source: The Huffington Post, “Beth Shak Divorce: 5 Other Strange Objects Fought Over In Divorces,” June 25, 2012