Entertainment media is constantly evolving. Over the past several decades, married couples have amassed collections of 8-track tapes, vinyl albums, cassette tapes and compact discs. Over the years, there were shelves in the family home devoted to VHS tapes, DVDs and Blu Rays. Now, many of these live online. Additionally, couples will likely create vast collections of digital books and videogames as well as music and movies.
But it doesn’t stop there.
Over the last several years, digital assets have become a staple in many married couples’ lives. In addition to various entertainment collections, online properties can include:
- Social media sites: it is not uncommon for the couple to share Facebook, Twitter or Instagram accounts to keep friends and family updated on their lives. Additionally, the couple might share access to photo-hosting or video-hosting sites. In a divorce, the couple must decide who maintains access and control over these properties.
- Digital storefronts: More and more, couples decide to try their hands at running a business. From eBay and Facebook Marketplace to Etsy and Amazon, a couple will often work together to develop a web presence and cultivate positive customer relationships. When the marriage ends, however, it can be a challenge to divide these businesses.
- Online shopper rewards: The digital marketplace can be crowded, and retailers often offer significant incentives to returning customers. Whether this is marked by a cash-back bonus, airline miles, discounts, store credit or gift certificates, an online shopper can amass thousands of dollars in consumer benefits.
After years or decades of marriage, it can be challenging for a divorcing couple to divide all their interwoven assets. From physical assets to online properties, the couple must carefully examine their entire financial picture to reach an equitable split.