Set forth below are various issues that apply to many divorces and dissolutions that spouses need to consider. Most parties have a good understanding of their assets. Tangible assets include your furniture, appliances, vehicles, real estate, boats, campers, etc. Even if those assets are not completely paid for, they will still have some net value. That equity is an asset.
Intangible assets consist primarily of financial investments.
IRA's, 401K plans and any other pension you or your spouse have through your place of employment. Some of the pension plans that employees have are the single greatest asset of the marriage, yet, many people overlook them. Both spouses are entitled to their respective share of the value of the pension earned during the marriage. Most people understand what their debts are, however many times, people believe a debt incurred during the marriage just in their name or their spouses name, means the other spouse has no responsibility for it. That is incorrect.