The Importance of Properly Assessing Your Marital Property in an Orlando Divorce

A divorce may force you to examine various assets in great detail. As you go through your various marital assets, you may be confronted with items you forgot existed. Perhaps you found an old family heirloom in the basement. Maybe your ex revealed a secret stash of precious metals. Perhaps you’re learning about assets held by the family business for the first time. Whatever the case may be, properly assessing these assets may be crucial during a divorce in Orlando.

“Junk” Is Often Worth More Than You Think 

Although it’s easy to dismiss your ex’s various knickknacks as “junk,” they may be worth more than you realize. Collectibles routinely outperform the S&P 500. Examples include stamps, baseball cards, vintage comic books, and much more. It may be tempting to simply allow your ex to keep these items – especially if they have no sentimental value for you. However, you might want to take a second look at these assets. A professional appraiser may reveal some very lucrative surprises.

Although baseball cards and stamps are more common among male collectors, spouses should also consider the various items that a woman might accumulate over the course of a marriage. A vintage handbag can be worth a pretty penny to the right buyer. The same goes for many other luxury fashion items, such as scarves or jewelry.

Consider your spouse’s personal knowledge of the item in question. If they seem to know much more about the asset than you, this could be a sign of its deceptively high value. Your spouse could be downplaying the true value of the property – hoping that you never take a closer look.

For example, your spouse might have extensive knowledge of fine art. Perhaps they have been collecting paintings and sculptures over the course of your marriage. A relatively simple metal sculpture purchased decades ago might be worth millions today. You never know until you have the piece properly appraised. Remember, abstract art is often indistinguishable from worthless chunks of scrap metal.

Appraisals Cost Money

 With all that said, you should remember that appraising an item isn’t cheap. The cost of appraisal may completely overshadow the cost of the item itself. It doesn’t make sense to meticulously appraise every piece of junk you find in your basement. A strategic approach is more logical, and you can work with your property division lawyer to determine which items might be worth fighting for.

Fight for Your Assets with an Orlando Property Division Lawyer

 Your assets might be worth more than you think. To avoid missing out on your fair share, work with an experienced Orlando divorce lawyer. These legal professionals can help you identify high-value assets worth fighting for. More importantly, divorce lawyers can ensure you walk away with financial security. Book a consultation with Steve Marsee, P.A. – and get started today.

Sources: 

moneywise.com/investing/alternative-investments/collectible-investments

money.usnews.com/investing/articles/2016-10-31/consider-collectibles-in-your-portfolio