Throughout a marriage, couples wind up sharing virtually everything from a house to bank accounts. When spouses decide to make the difficult decision to file for divorce and dissolve their marriage, they must discuss how to divide this shared marital property. They may consult a divorce attorney to discuss who will remain in the family home, which spouse will receive most parenting time or custody of the children, and how debt payments will be divided and paid off. Most people focus on these big-ticket items. However, many other types of overlooked shared marital property are essential to consider when filing for divorce.
Pets
Spouses may overlook pets when considering how to divide shared marital property during a divorce. Although pets may feel like family members, pets are considered property in Illinois. Before 2018, when deciding who gets what during a divorce, pets were treated the same as any other type of property. The court did not award joint ownership or make “pet custody” arrangements. New provisions enacted after 2018 allow spouses to create joint ownership agreements for pets and consider the pets’ best interests.
Airline and Travel Points
Credit cards and shared debts are often considered in divorce proceedings. However, many people tend to push aside included assets, such as airline mileage points. If both spouses shared a credit card or had shared expenses and debts, they will also share the incentives, such as travel points.
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