What is Camping Equipment?
If you’re more of an “indoorsy” person, chances are you probably won’t have to worry about detailing any camping gear. However, if you enjoy the outdoors, chances are good that you have a tent, sleeping bags, backpacks, snow shoes, lanterns and other items of value you’ve collected along the way.
🤔 Understanding how Camping Equipment affects your divorce.
Camping Equipment acquired during the marriage is usually treated as marital property. Assets acquired by one spouse but which the other spouse uses regularly during the marriage may also constitute marital property. You and your spouse will need to make the identity of each asset clear. You will also need to determine the present value of your assets to help you determine how to divide the overall value of your marital estate between you. If the asset is encumbered by a loan, you will need to identify the loan account number, the name and location of the lender, the loan balance, and the amount of the monthly loan payment.
As you consider how to divide the assets acquired during the marriage, it’s best to take into account the purpose and primary user of each asset.
Jerry was raised in the great outdoors and is quite comfy in a sleeping bag, while Sally is more of a hotel person. Recognizing their different preferences, Sally suggests that Jerry keep all their camping equipment knowing Jerry will return the favor with some assets that mean more to her than they do to him.