Valuation of (non-real estate) property


#1

Should valuation of such property be at replacement value (it seems fair as that is the amount it would take to replace it), or, is valuation of any (non-real estate) property generally at current market value?
Do we have to have everything appraised (expensive to do), or can we just agree in an SA that one gets this item and the other gets this item without an appraisal (maybe we should agree on any items’ value
between ourselves to be safe??)?


#2

Personal property is valued at “re-sale value” aka “garage sale value”. If you cannot agree on how to divide the personal property you may have it appraised, however often times arguing over such items and ending up at the point where an appraisal is needed ends up costing the parties more than the household goods are worth.