real estate

Cost-Benefit Analysis of Experts in the Divorce Process

Hi there,

From start to finish there is no question that divorce is expensive. Sometimes it is a juggling act; do you spend the money for  the expensive expert or do you agree on a shared one? Or do you skip an expert altogether (which can be dangerous)? The most commonly needed experts, outside of parenting matters, are residential real estate appraisers, business valuation experts, commercial real estate appraisers, defined benefit pension valuation experts, and forensic accountants.

If money is tight – and no matter how much you have, money is tight when you are in the process of divorcing – maybe you can share the costs of a joint expert. This is often a plausible idea for residential real estate because there is a common sense way to reality-check the results. Most folks have a reasonable idea of their residential real estate values, thanks to Zillow.com and your town assessor’s office.

It also makes economic sense to share the cost of the actuary doing the defined benefit pension valuation. There generally will be some form of information from the pension provider which also will provide a good reality check.

But, if it is at all possible, you should … Keep reading

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 … Keep reading