Couples who have been together for decades often worked hard to acquire the assets they have. The home they now own and the prized possessions in it may have come about after years of hard work by both individuals. It makes sense, then, that an individual would have a fear of losing these assets in a divorce. To some, it may seem petty to fight over inanimate objects, but those who own them often understand that they have a monetary value as well as a personal value.
Some of these items may include musical instruments, antiques, jewelry, furniture, classical cars, and various collectibles such as artwork, firearms or coins. While splitting up bank accounts may be relatively straightforward, such is not the case with these unique assets. If these assets are involved, it is important to work with a lawyer who is experienced in marital estate valuation. The point of marital estate valuation is to determine the value of the asset, or who can actually claim ownership of that item. Some items may be jointly owned, while others may be owned by only one individual.
In this case, a lawyer will work with various experts, such as real estate appraisers, business valuators, forensic accountants, arts appraisers and personal property appraisers. These experts’ expertise in their individual fields helps them establish a fair market value for each asset. A lawyer can help you decide what is truly worth fighting for and what assets will actually benefit you in the long run.