Will appraisals be necessary in your high-asset divorce?

On Behalf of | Feb 1, 2024 | Uncategorized |

A high-asset divorce usually means complex property to assess, value and, ultimately, determine how to divide up between the soon-to-be ex-spouses. Investment accounts, retirement accounts, real property, artwork, vehicles, business interests – it could all be part of the property and debt division aspect of your divorce. To determine what is fair in the division of debt and assets, it may be necessary to engage an appraiser.

Appraisal basics

Will property appraisals be necessary in your high-asset divorce? If you have real estate holdings – and that probably means more than just the family home – it is likely that appraisals of the real estate will be helpful in determining value and then how those assets can be distributed between the divorcing couple.

The basic process of an appraisal, particularly when it involves real estate, is for an appraiser to do a thorough inspection of the property in question and then compare the property to other real estate in the same area that has similar characteristics. What the other similar properties sold for will be a big factor in determining appraised value, but there are many other factors involved in the process as well.

And, real estate might not be all you need to have a value determined on. Jewelry or other luxury items, and artwork too, might have fluctuating values that you need to have pinpointed for the time of your divorce case. In short, if you have assets that will be part of the property division part of your divorce and you aren’t sure of the value of those assets, appraisals may become a key part of how your divorce case shakes out.