Dividing physical assets and bank accounts can pose a difficult time for Florida couples during and after a divorce. However, as people spend an increasing amount of their time online, they may also have digital assets to consider. Not only do social media profiles send you sometimes unwanted reminders of past relationships, but there can also be a significant value for many digital assets. Along with a traditional agreement on property division, divorcing couples may benefit from a digital assets agreement as well.
Listing digital assets for divisions
When couples divorce, they make a list of all of their property and joint accounts as part of the asset division process. For people with an online business, it may be obvious to account for online assets as part of their divorce negotiations. However, this can also be valuable for couples whose online actions are less lucrative. Couples can make a list of their shared accounts, including online shopping, security devices, social media, email and connected apps, and then determine how to apportion them. Once people decide how to divide their online accounts, they can then change all passwords.
Handling online streaming
Other accounts may have more limited stakes, as they do not involve access to private information or sensitive financial data, like subscriptions to online streaming services for films, TV or music. However, many people may also find greater emotional peace by dividing up these services as well rather than continuing to share accounts. There are also other practical solutions people can take on other online services to minimize reminders of the separation, including blocking or muting a former partner.
People who have pursued online careers may have other concerns with shared online accounts, including ensuring that private information is protected. By including an array of online assets and behavior in the divorce settlement, couples could help themselves to separate their digital trails and move forward solo.