Who Gets the Private Jet After Divorce? (And Other Unique Assets)
There are multiple methods of "dividing" unique assets, some of which will not require you to give up what you want to keep. The key is properly valuing these assets and dividing other property in a way that accounts for the value.
To take a private jet as an example, divorce will call into question what happens to your fractional ownership interest and/or mileage points. (The financial liability of aircraft maintenance will also require attention in a divorce.)
What Are 'Unique' Assets?
In the context of divorce, a unique asset is something other than the home, SUV, or checking account. Unique assets are those things that have value, but that are relatively intangible as compared to a home, and are therefore more difficult to value and divide.
These are examples of unique assets:
- Intellectual property (patents, copyrights, trademarks)
- Digital/virtual assets (domain names, for example)
- Private jet ownership (fractional ownership of private jets and redeemable mileage points)
- Collections (cars, motorcycles, paintings, firearms, etc.)
If you're facing divorce, one of your natural concerns might be what happens to your private art collection, for example. Divorce doesn't automatically mean that you must give up your entire collection, or even part of it, depending on the circumstances.
Other Assets That Give Rise to Complexity in Property Division
Visit the Link Below to Learn More or Call (713) 909-7323
To learn more about this subject, visit our page on complex divorce cases. There we go into more detail on different kinds of unique assets, from oil and mineral rights to stock options and retirement plans. To consult with a lawyer at the Houston law firm of Hendershot, Cannon & Hisey, P.C., call (713) 909-7323 or contact us online 24/7.