Valuation and Division of (Unusual) Property in Divorce

Hi there,

That handsome fellow on the right is a jackalope. He was given to one of my paralegals by a client in gratitude for her work dividing an extensive collection of very unusual stuff, which did indeed include another jackalope.

Many of you, if you divorce, will have extensive property to value and then divide, including stock options, retirement accounts, real estate, deferred compensation, and business interests. All of these will require some form of valuation. They also will require consideration as to whether they will be divided immediately, usual for retirement accounts, or one party will keep the asset and then pay the other, which is usual for real estate and business interests.

Sometimes divorce can be used to prevent divestment of an asset, as in the case of the unlovely Sterlings.

Then there are collections; I find these fascinating. I’ve had to find experts to value everything from fine art (easy) to circus memorabilia (not so easy), to jewelry, and once, designer handbags. The evolution of internet sales has made valuation of individual items a bit easier (Hermes handbags, for example, are now fairly easy to value). Also, the sheer size of a collection can increase its value. In any case, dividing the marital assets can be one of the most difficult tasks faced by divorcing couples, and a little cooperation is they key to an amicable division of assets.

Enjoy the long Memorial Day weekend!

Best,

Nancy