Personal Property in Divorce

Aug 30

Personal Property in Divorce

Personal Property in Divorce

When considering the division of household goods and personal property, courts seek to divide the assets reasonably rather than evenly; this rarely results in a 50/50 split. It is impossible to evenly split personal property because each individual places a different value, both numerical and sentimental, on items.

How to Agree to Split Personal Property with Your Spouse

Most couples are able to review the contents of the marital residence and informally agree on an item-by-item division. To begin this process: Start by making a four-column table.  List assets in the first column, the monetary value in the second, perceived sentimental value in the third, and a proposed owner for each item in the last column.  If unable to agree upon the value of an item, couples may hire an appraiser. With an attorney’s assistance, spouses often find it manageable to negotiate a division using these spreadsheets. When faced with disagreements, courts may use items’ appraised values as guides to award ownership. If you have high-value properties and you are going through a divorce, contact an experienced family attorney to guide you through the process and help you to keep what is rightfully yours.

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