What Happens To Your Digital Assets In A Divorce?
Digital Assets Library That Can Be Divided In A Divorce Process Include Kindle, iTunes, Xbox Live, Games, Apps And Other Digitally Downloaded Media
Traditionally, when dividing assets in a divorce, each individual looks to their assets obtained during the marriage. When these assets are identified, the process of dividing those assets up then runs its course. Today, with the constantly changing technological field, assets are not merely tangible objects anymore. For example, your iTunes library is not a tangible asset, yet it does have value and you did spend money to amass this library. Even though this asset is not a house, car, jewelry, or even cash, it’s still considered an “asset.” It also doesn’t matter which spouse maintained the library, or who actually purchased the digital assets; as long as they were obtained during the marriage, they qualify as “marital assets” which means they’re treated no different than a car or any other tangible asset.
Well, let’s say you share this music library with your spouse. What happens when you go through the divorce process? This concept has been somewhat of a grey area due to the relative … Read More... “Divorce: Dividing iTune Libraries and Other Digital Assets”