If you are facing a high-asset Virginia divorce, it is important to get full value for each marital asset you have. That applies to your share of the assets that are indivisible in divorce.
One example of this is the country club membership. This is usually a high-value asset that often comes with a steep initial buy-in, annual dues and monthly statements that must be paid to keep your membership from falling into arrears.
What this means to divorcing couples
Country clubs are a great place to socialize and get business deals done outside of the office. Typically, both spouses derive benefits from the club membership, but only the member spouse will walk away with their membership intact.
That’s because country clubs accept individuals as members, and the member’s spouse and any minor children are considered associate members. When divorce looms, the associate member no longer has club privileges.
Determine its true value
Despite the country club’s rules, the associate spouse should still assign a value to their share of the club membership and pursue a comparable share of another asset. Perhaps ownership of the beach cottage or more time at the ski-in condo in Aspen would be a fair trade-off in a high-asset divorce. Only you can decide what would be a worthwhile exchange for the value you lost in the club membership.
Regardless, you should never walk away with resources still on the negotiation table. Your legal team can guide your property division strategy to ensure that when the divorce is finalized, you will have sufficient assets to start a new chapter in your life.