It is often easy to see how division of tangible assets will work out in a divorce. Furniture pieces can go to separate homes, the house sold, and the vinyl record collection negotiated for. Digital property, on the other hand, presents more of a challenge. What will happen to a shared Amazon movie collection, or your joint iTunes account?
As the rules regarding these assets continue to develop, here is what couples in Alabama considering divorce should know:
What digital assets might be at issue in divorce?
Digital assets a couple might share include:
- Digital music libraries
- Streaming video memberships
- Airline miles
- Credit card rewards
- Video games
Some digital assets divide easier than others in a divorce. For example, copies of image files can go to each spouse without additional cost. Others, such as streaming services where a couple shares an account, will likely have to be negotiated for.
Alabama’s approach to property division
In Alabama, nearly all property acquired during a marriage becomes “marital property.” Courts consider this property jointly owned and try to divide it as evenly as possible in divorce proceedings. However, property each spouse had before the marriage generally belongs to them alone.
When it comes to digital assets, it helps to inventory all your accounts along with the date you opened them. Luckily, it is often easy to find this information for a digital account. You can also consult with a skilled divorce attorney to learn the best ways to address these types of assets in divorce.