Demystifying the Appraisal Process in Divorce
Seth and Pete dive deep into the complex world of appraisals during divorce proceedings. Whether you're dealing with real estate, wine collections, artwork, or vintage electronics, understanding how items are valued can significantly impact your divorce settlement.
Getting your assets properly appraised is crucial for fair distribution in a divorce, but timing and strategy matter. Seth and Pete explore the differences between full appraisals and market analyses, when to get items appraised, and how to handle situations where collections or assets may be damaged or hidden. Through real examples and practical scenarios, they break down the systematic approach professional appraisers use to determine value.
Questions we answer in this episode:
- When is the best time during divorce proceedings to get items appraised?
- Should both parties get separate appraisals or share one appraiser?
- How do courts handle significant differences between competing appraisals?
Key Takeaways:
- Start the appraisal process early, especially for valuable collections
- Document everything with photos and receipts before moving items
- For items you want to keep, lower valuations work in your favor during settlement
This episode provides essential knowledge for anyone navigating property division in divorce. Seth and Pete offer practical guidance on protecting your interests while maintaining transparency in the appraisal process. Their discussion of real-world cases and strategic considerations makes complex appraisal concepts accessible and actionable.Links & Notes
- Schedule a consult with Seth
- Got a question you want to ask on the show? Click here!
- (00:00) - Welcome to How to Split a Toaster
- (00:26) - Appraisals
- (02:02) - Garage Sale Value Unless…
- (03:07) - Why to Get an Appraisal
- (04:29) - When to Do It
- (05:29) - High vs. Low Appraisal
- (06:33) - Before or After Marriage Purchases
- (07:14) - Identification
- (08:51) - Quality
- (09:36) - Special Circumstances
- (09:52) - Value
- (13:48) - Separate vs. Joint Appraisals
- (15:44) - Analyzing the Appraisal
- (17:23) - Collecting Data
- (18:04) - Recording the Data
- (19:21) - The Report
- (19:54) - Can Be Tedious and Detailed
- (23:25) - Conflict in the Process
- (26:06) - Tainting Judge’s Opinion
- (26:51) - Active Appreciation and Depreciation
- (28:33) - Virtual Appraisals
- (29:12) - When to Update Appraisals
- (31:15) - Back to High vs. Low
- (33:30) - When It’s Overseas
- (35:22) - Wrap Up
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