14. What kind of assets get equalized during separation?

Most property owned by either married spouse on the valuation date may be relevant to

equalization. Assets commonly included are:

 the matrimonial home;

 other real estate;

 bank accounts;

 investments;

 stocks and bonds;

 pensions and retirement accounts;

 vehicles;

 corporations and business interests;

 professional practices;

 shareholder loans;

 cryptocurrency;

 valuable personal property;

 life insurance cash surrender value;

 trust interests, where applicable;

 stock options and employment-related equity;

 tax refunds;

 accounts receivable;

 loans owed to a spouse; and

 property transferred shortly before separation in suspicious circumstances.

Certain property may be excluded if it falls within a recognized exclusion, such as certain gifts,

inheritances, personal injury damages, or life insurance proceeds, provided the property can be

traced and has not been improperly commingled.

The equalization process does not mean every asset is physically divided. Rather, the spouse

with the higher net family property generally pays the spouse with the lower net family property

one-half of the difference.