Now you can do anything you want without any immediate tax. That vacation home, those stocks and bonds may all have different built-in taxes lurking as time bombs for when you eventually sell. If you bought it recently the bomb could be small, but if it has increased in value there could be a good-sized tax bill down the road. Make sure your lawyer doesn't overlook this when negotiating the split. As usual, we've only scratched the surface.
Tax planning is a major national industry running into the billions of dollars.
That's just the advice. You can't know even a fraction of the rules, but it pays to be aware.