High-asset divorces involve complex financial issues regarding the equitable division of property. Trying to decide which assets are worth fighting for in your divorce can be overwhelming.
For higher-income couples, one marital asset that should not be overlooked is the golf or country club membership. Is this something worth fighting for in your divorce? Learn more below.
Your club membership has value
Country club memberships have a value that must be determined when dividing property in your divorce. But it may not be possible to fight for it or even to amicably agree that one spouse retains the membership due to the terms of the club’s membership agreement.
Pore over the rules
Most country clubs grant membership to a primary person, who can then add their spouse as an associate member, along with any eligible children. Should the couple divorce, the membership remains with the primary-member spouse. Furthermore, many clubs have rules against the transfer of the club membership to the associate-member spouse and may bar them entirely from even seeking their own primary membership.
Leverage the membership for another comparable asset
While it might be disappointing to learn that you cannot retain the club membership in your divorce, you can still use this to negotiate for an equivalent asset to offset this loss. A larger portion of the retirement pensions, the family home or the vacation home on the shore might be a fair swap for your interest in the country club and its many amenities.
The more you learn about your rights and responsibilities in the divorce, the better prepared you can be when you sit down at the negotiating table or appear in family law court.