Dividing marital property is a necessary element in most divorces. With exceptions for couples who have already signed marital agreements, negotiating property division terms is often one of the most contentious aspects of the divorce process.
The goal of property division is to establish a fair arrangement. Spouses can set their own terms if they reach an agreement or have already established terms in a marital contract. Otherwise, they may rely on a judge to apply state statutes to the marital property.
In some cases, spouses may need to seek outside support for asset valuation. When is such support likely necessary?
When spouses can’t agree
Spouses frequently disagree about who should keep which assets and even what assets are subject to division. In some cases, they may also disagree about what assets are worth. Each asset represents a certain fair market value and can impact other decisions about property division.
Professional evaluation may be necessary when there are conflicts related to property division. Real estate professionals and others with specialized knowledge can help establish reasonable fair market values for key marital assets.
When the marital estate is complex
More successful spouses who have a diversified marital estate may have a variety of resources that have shifted in value and that may require specialized knowledge to properly value. Investment holdings, businesses and even private collections may sometimes require professional valuation because spouses cannot accurately estimate their value on their own.
Once spouses know what their assets are worth, they can then negotiate with one another or start preparing for litigation. Setting a fair market value for assets is a key component of successful property division proceedings.