Valuing Collectibles In A Divorce
Personal property may have value, including things you collect. The value may be worth more or less than you paid for it, but this amount must be included in the division of property during a divorce.
If you or your spouse has any sort of collection, you will need to consider its value in your divorce. The attorneys of The Prince Law Group can assist you with that process. We have experience in property division of all types. We can assist with the value of various types of collections, including:
- Art collections
- Cars, motorcycles or other vehicles
Our lawyers will help you decide how to handle property division in your divorce. We offer mediation and collaborative law services, as well as standard family law services to individuals and couples in Stamford, Connecticut, and the surrounding areas.
Placing A Value On Your Collection
Couples may divide their personal property such as family heirlooms. For property in contention, or to determine property value, a licensed valuator is hired. This licensed valuator will value your property and determine a bottom number such as the balance in your bank account to be used for settlement or at trial.
You and your spouse have options when it comes to the value of a collection in your divorce; to share the collection, to sell the collection and share the proceeds, or to trade a different asset for the collection.