Distributing Your Antiques Upon Divorce

 Posted on December 19,2018 in Complex Property Litigation

Many couples, especially those who have been married for a number of years, acquire unique valuables in addition to their income, including jewelry, artwork, and antiques. In the event that a couple decides to divorce, these objects could end up accounting for a large portion of their marital assets and so will need to be divided equitably in a property settlement. Critical to this process is obtaining a proper appraisal of all valuable collectibles and antiques, so if you and your spouse have decided to file for divorce and you are unsure how to move forward with your case in regards to your valuable or unique assets, it is important to speak with an experienced high asset divorce attorney who can advise you on your next steps.

Antique Status

Many people assume that because an object is old, it automatically qualifies as a true antique. This is, however, not true, as, in the world of collectibles, there are actually three categories under which old objects can fall, including:

• Antiques, which are objects that were manufactured at least 100 years prior;
• Collectibles, or vintage items, which are objects that were produced more than 20, but less than 100 years ago, and are widely recognizable as being from a certain time period; and
• Retro, which is a term used to describe objects that are purposely derivative of a certain trend or fashion, usually from the 1980s or 1990s, although they don’t actually need to have been manufactured during that time period.

While vintage products are often valuable, most expensive pieces purchased at galleries and auctions fall under the definition of antique.

Determining Value

Deciding how much an antique is worth is critical to ensuring that any divorce-related property settlements are fair. While many people choose to obtain appraisals from collectible dealers and antique shops, it’s usually best to find a certified appraiser, as these individuals are more likely to provide a fair judgment and are specially trained to assess the age and value of presumed antiques. It may also be necessary to retain multiple appraisers for different types of objects. For instance, couples who own antique jewelry, furniture, and vehicles will most likely need to speak with at least three different appraisers. Once an object has been appraised, the professional appraiser will issue a written report that clarifies the provenance, age, and estimated value of the object in question. It is even possible to obtain professional valuations online.

Contact a Skilled Leander High Asset Divorce Attorney Today

To speak with one of the skilled Round Rock high asset divorce attorneys at Powers Kerr & Rashidi, PLLC about how your marital assets will be divided upon divorce, please call 512-610-6199. You can also reach a member of our legal team by sending us an online message with your contact information and a brief description of your case.

Source:

https://www.huffingtonpost.com/jim-t-miller/how-much-your-old-stuff-i_b_5384181.html