While the process of divorce and/or separation is incredibly difficult, sometimes parting with our possessions can be just as difficult. It is not uncommon for people to accrue special items, or collectibles, during their marriage.
In the event the parties cannot agree on the value of a collectible, an expert will need to be hired to determine the value. Once a monetary value is established, the parties or the court will decide who will be awarded the collectible. The other party is then entitled to an equalization payment for their community interest. Here at Owens & Perkins, we have seen many cases that include these types of unique assets including:
- Vinyl Records
- Classic cars
While some collectibles do not have much monetary value, they can still hold a tremendous amount of sentimental value. When it comes to things we hold near and dear to us, it is important to have someone fighting for you.
If you find yourself or a loved one facing or involved in a divorce with unique assets and need the advice and counsel of an experienced attorney, please call OWENS & PERKINS at480.994.8824 to schedule your free 30-minute consultation.