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Divorcing? Don’t forget about collectibles

On Behalf of | Feb 14, 2023 | Property Division

You and your spouse are divorcing and trying to keep it amicable. You have already determined your custody arrangements for your minor children. All that remains is the division of marital property.

Here, you’ve run into problems. Neither of you wants to give on the big-ticket items like the retirement accounts and the house. But you may be able to find a bargaining chip by splitting the collectibles.

Do you and your spouse have collectibles?

People collect all sorts of items — everything from rare Art by the masters to vintage cars and expensive wines. But there are smaller, less easily valued collections that you also should consider.

The collection needs to be valuated

There are markets for all sorts of collectibles like rock ‘n’ roll memorabilia and Depression glass. Some of it is worth only a few dollars. But other items that look like junk could be very valuable, like this KISS pinball machine selling for $9,295.

But the average person will have no idea of the value that lies at their fingertips. Hire a professional who can accurately assign a value to these collectibles. Then, armed with the knowledge of just how much your spouse’s coveted collection is worth, you will be prepared to wheel and deal to get the property settlement you need.

Protect your interests

Settlement negotiations can become fraught with tension. Learn about your rights to a fair and equitable property division under the laws of the Commonwealth of Kentucky. With the services of a knowledgeable collectibles valuator and proper legal guidance, you can walk away from your marriage with all you need to begin your new life.