How to value marital assets


#1

Dear Marlee:

Greetings. 1. Fair market value. I would tell them to get an appraisal if you don’t agree on the price. Also, make sure that the jewelry is marital. 2. There are people who do personal property appraisals and they can value an oriental rug. I do not know of any oriental rug valuation websites. Thank you.

Janet L. Fritts
Attorney with Rosen Divorce
4101 Lake Boone Trail, Suite 500
Raleigh, North Carolina 27607
919.787.6668 main phone
919.256.1665 direct fax

10925 David Taylor Drive, Suite 100
Charlotte, North Carolina 28262
704.644.2831 main voice
704.307.4595 main fax

ROSENDIVORCE.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 but a full discussion with an attorney should be undertaken before taking any action.


#2

Thank you Janet. two more questions? 1) how do you determine if jewelry is “marital”? I bought $6K worth of jewelry over the past 3 years out of my bonuses and from my separate checking account but during our marriage period. Does that constitute “marital” ? 2) What happens if we are going through our assets and he decides he doesn’t want anything we’ve received as gifts (like kitchen items that could total up to $1500) and I don’t either - do we value it at $0 and one of us takes it? He already eluded that he doesn’t want a lot of the gifts we received since they were gifts “I” picked out for our registry. He would probably rather load me up on valuations so I pay him in cash instead - I am already going to have to pay him off and don’t need this to add to it! help!


#3

Dear Marlee:

Greetings. If the jewelry was purchased during the marriage, it is presumed marital, but you can refute that presumption if you can prove that your purchased the jewelry with separate assets.

If you disagree on one of you taking something, then you can sell the item and divide the recovery. You could try e-bay. Now, if he does not mention it or place a value on it, then I wouldn’t either. Best of luck.

Janet L. Fritts
Attorney with Rosen Divorce
4101 Lake Boone Trail, Suite 500
Raleigh, North Carolina 27607
919.787.6668 main phone
919.256.1665 direct fax

10925 David Taylor Drive, Suite 100
Charlotte, North Carolina 28262
704.644.2831 main voice
704.307.4595 main fax

ROSENDIVORCE.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 but a full discussion with an attorney should be undertaken before taking any action.


#4

My separated husband and I are in the process of creating a list of marital assets for equitable distribution.

(1) Can you tell me (in NC)if our assets are to be valued for fair-market value at the time of our separation, or the replacement value (what we paid for an item)? I thought on the forum it said fair-market value but I wanted to be sure. His lawyer said resale value. I have jewelry that I have purchased on my own credit cards and he said he wants half the appraisal value which is 20-25% more that what I paid for it. Should I go to a reputable jewelry store and get what they would buy it back for and that is the value?
(2) If it is fair-market value (or what someone would buy it for) how do I value an oriental rug now? Is there a website that may have values like this (kind of like Kelly Blue Book for cars)?

thanks Janet.