When high-earner couples face divorce, they have more complex property settlement issues than lower-wage couples do.
For instance, one asset that must be valuated to fairly divide is the country club membership. Is that an asset to fight for? More importantly, can either party claim it?
The lowdown on club memberships
It can cost upwards of $50,000 to simply join an exclusive country club. The more amenities they offer, e.g., golf, tennis, swimming, the higher the buy-in may be. But even if you join along with your spouse, one of you will be the member and the spouse and any dependent children will only be associate members.
In divorce, members retain country club memberships.
Will I get nothing from my share of the membership?
Not at all. Your job as an associate member is to quantify the worth of your associate member status. Then, you can seek an equivalent share of another high-dollar asset to offset the value of your club membership.
How that can play out
If you are an active country club member, you probably derive a great amount of your social activities and recreation from your association with other members. It might even amplify your business success to be able to host a round or two of golf for your boss.
If you are the parent of minor children, once you determine an approximate value for the loss of the club membership, you may haggle for the family home in lieu of the club membership. Alternatively, if you are an empty-nester, the condo in Myrtle Beach might be a better trade.
Strategize all the angles with your legal team when dividing property in your high-asset Indiana divorce.