Fair Market Value


#1

Interested in the answer also. My atty said to put the value that “you would sell the stuff at a yard sale for” and I did. Most of the furniture in our home is over 10 years old and “child friendly”- nothing fancy. MAybe it cost a lot when we bought it as it was good quality but I could not resell it for that price now. Lots of other stuff in our home are treasures bought on vacations with the kids- cost? lots of sentimental value?

Husband moved out when he separated and bought a new house and furniture for himself, so is not asking for many household things but is raising the price on what I have. How can this be settled without the cost of an apppraisal, or is that the only way.


#2

There are “blue books” for collectibles and antiques, but for the everyday stuff, it is only worth what somebody would pay for it. One suggestion… look on ebay. That has a wide variety of items and what people are willing to pay for them. You can pring “reference pages” if your stbx decided to dispute the value. Of course this may not hold the weight of an appraiser, but it will cost time, not money. With an educated guess you can appraise your own stuff. If he continues to dispute… get an appraiser and have him at least split the bill.


#3

Would the Salvation Army’s Valuation Guide be ok for Household goods?

satruck.com/ValueGuide.aspx

I assume I need a realtor’s appraisal on the value of the house…

What about the cars? Which blue book value should I use or would the tax value do?

How do I get the value of his IRA and Retirement accounts that are part of his job benefits, when he won’t cooperate?

Man, I never thought I’d be living and breathing these forms after being married for 34 years…


#4

The valuation process is different depending on the asset in question, what are you trying to value?

Helena M. Nevicosi
Attorney with Rosen Law Firm

4101 Lake Boone Trail, Suite 500
Raleigh, North Carolina 27607
919.787.6668 main phone
919.787.6361 main fax

Charlotte Office
301 McCullough Drive
Suite 510
Charlotte, NC 28262
Main Phone: (704)307.4600
Main Fax: (704) 9343.0044

Durham & Chapel Hill Office
1829 East Franklin Street
Building 600
Chapel Hill, NC 27514
(919) 321.0780

ROSEN.COM

The response posted above is based upon the limited factual information made available and is not intended as a full and complete response to the question. The only reliable manner to obtain complete and adequate legal advice is to consult with an attorney, fully explain your situation, and allow the attorney sufficient opportunity to research the applicable law and facts required to render an accurate opinion. The basic information provided above is intended as a public service only, a full discussion with an attorney should be undertaken before taking any action. The information posted on this forum is available for public viewing and is not intended to create an attorney client relationship with any individual. These answers are provided for informational purposes only, a person should consult with their own individual legal counsel before taking any action that could affect their legal rights or obligations.


#5

EVERYTHING (all of our property - Marital and Separate) from 34 years of marriage for filing Form 8 Equitable Distribution Inventory Affidavit(ED)!

Form at:
nccourts.org/Courts/CRS/Poli … ts/640.pdf

Real Property (House and Lot)

Motor Vehicles (3 Cars)

Household Furnishings/Collectibles

Misc. Personal Property (Tools, guns, Lawn Equipment, Jewelry, Animals)

Checking and Savings Accounts

Savings Bonds

Retirement Accounts (Pensions, 401(K), Profit Sharing Plans, IRAs) through my husband’s employer

Life Insurance Policies

Property Acquired After DOS

Divisible Property

quote:
[i]Originally posted by Helena Nevicosi[/i] [br]The valuation process is different depending on the asset in question, what are you trying to value?

Helena M. Nevicosi
Attorney with Rosen Law Firm



#6

Your home can be valued by hiring a licensed real estate appraiser.

A business can be valued by a business valuator.

You can find a ball park value of your vehicle at www.nada.com.

Bank accounts, stock accounts, retirement accounts are generally valued by looking at the most recent statements.

Your personal property is generally valued by using “yard sale values.” If you have an item of personal property that has a special value, such as an antique, collectible artwork, etc, you can hire a professional to value those assets.

Helena M. Nevicosi
Attorney with Rosen Law Firm

4101 Lake Boone Trail, Suite 500
Raleigh, North Carolina 27607
919.787.6668 main phone
919.787.6361 main fax

Charlotte Office
301 McCullough Drive
Suite 510
Charlotte, NC 28262
Main Phone: (704)307.4600
Main Fax: (704) 9343.0044

Durham & Chapel Hill Office
1829 East Franklin Street
Building 600
Chapel Hill, NC 27514
(919) 321.0780

ROSEN.COM

The response posted above is based upon the limited factual information made available and is not intended as a full and complete response to the question. The only reliable manner to obtain complete and adequate legal advice is to consult with an attorney, fully explain your situation, and allow the attorney sufficient opportunity to research the applicable law and facts required to render an accurate opinion. The basic information provided above is intended as a public service only, a full discussion with an attorney should be undertaken before taking any action. The information posted on this forum is available for public viewing and is not intended to create an attorney client relationship with any individual. These answers are provided for informational purposes only, a person should consult with their own individual legal counsel before taking any action that could affect their legal rights or obligations.


#7

Values would be as of date of separation, correct?

Which Kelley Blue Book value should I use?

Blue Book Trade-in, Retail and Private Party Values?

The same ? for NADA… Low Retail, Clean Retail, Value High Retail?


#8

The value would be as of the date separation. Generally, you should use the private party value when valuing your vehicles.

If he will not cooperate with you and give you the documents you have requested, you can get his retirement statements via subpoena, however, you would have to file a lawsuit to do so.

Helena M. Nevicosi
Attorney with Rosen Law Firm

4101 Lake Boone Trail, Suite 500
Raleigh, North Carolina 27607
919.787.6668 main phone
919.787.6361 main fax

Charlotte Office
301 McCullough Drive
Suite 510
Charlotte, NC 28262
Main Phone: (704)307.4600
Main Fax: (704) 9343.0044

Durham & Chapel Hill Office
1829 East Franklin Street
Building 600
Chapel Hill, NC 27514
(919) 321.0780

ROSEN.COM

The response posted above is based upon the limited factual information made available and is not intended as a full and complete response to the question. The only reliable manner to obtain complete and adequate legal advice is to consult with an attorney, fully explain your situation, and allow the attorney sufficient opportunity to research the applicable law and facts required to render an accurate opinion. The basic information provided above is intended as a public service only, a full discussion with an attorney should be undertaken before taking any action. The information posted on this forum is available for public viewing and is not intended to create an attorney client relationship with any individual. These answers are provided for informational purposes only, a person should consult with their own individual legal counsel before taking any action that could affect their legal rights or obligations.


#9

What is the best way to figure Fair Market Value for equitable distribution purposes? If I just put down what I THINK ITS WORKTH, my husband is just going to dispute every one. Is there an accepted system or service or person(s) who can be used to establish FMV?