One nearly universal truth is that the more assets and resources divorcing couples own, the more complicated their divorce will be. That’s because splitting up requires dividing marital assets fairly.
One thing to consider is the value of any country club memberships. Below is some important information to consider in a high-asset divorce.
Who gets to keep the country club membership?
Most (if not all) country clubs accept a membership application from one person. Historically, this has been the male spouse. Regardless, they are the member, and their spouse and any children are considered to be associate members under the member’s account.
While this doesn’t affect their privileges or the amenities they can enjoy with the membership, it’s a major factor in who gets the club membership in divorce.
It’s still a major marital asset
Country club memberships are expensive, with hefty initiation fees, annual dues and monthly bills for services, goods and food and drinks charged to the account. So, even if you are not the member spouse (although you may have financially covered some of the fees, bills or dues), you still have an interest in this asset.
Because you are barred by club rules from keeping the membership, you can leverage your loss here for another comparable asset.
Define the value of your loss
Both men and women gain valuable professional and social access via country club memberships. They can get their exercise through rounds of golf and tennis matches or swimming laps in the pool. All of this has a value, which you and your team must valuate so you can swap your share for an equally appealing asset in the same value range.