Arts & Antiques 6-24
Post-divorce property divide
I’ve recently seen on the TLC network, online and on the cover of nearly every popular magazine that people are asking the question of the moment: will Jon and Kate get a divorce?
That’s Jon and Kate Gosselin of the popular TV reality show, “Jon and Kate Plus 8.” The TLC show documents the life of a Pennsylvania family raising two sets of multiples. The stresses of work and child-rearing (one child or a bunch) can drive anyone to the edge. Now, add into that mix a litany of their life’s other responsibilities, such as the groups of relentless paparazzi, who are paid to follow them around wherever they go, and all the rest of the issues that go along with having a highly rated TV show.
How can the Gosselin’s situation help the rest of us? Read on.
The marital issues that millions of couples face, including Jon and Kate, are not uncommon. Yet, most people find themselves unprepared when it comes to the nuts and bolts of evaluating personal property. When and if divorce threatens your marriage, I have some expertise to share.
Whether or not you have eight kids, here’s what you should know about your valuables when facing divorce.
You both agree that you are going to be reasonable and loving when it comes to your kids. You have retained child custody advocates, divorce attorneys and professionals in the field to assist you. You feel good about how you have dealt with your children in this trying time, but there is still great turmoil over objects that were acquired during your marriage. The first thing you need to do is to evaluate your stuff.
Consider this: You agree to let your soon-to-be-ex-wife have those Lladro figurines that you purchased in Spain on your 10th anniversary trip. You don’t need those dust collectors taking up shelf space next to your beer steins in your new bachelor pad.
After the divorce is finalized, you find out that one of those elongated porcelain ladies is worth $5,000. You’re furious that you didn’t know how much those ‘nic-nacs’ were worth.
On the other hand, your husband’s fishing hobby was wonderful, as long as you didn’t have to get up at the crack of dawn and go with him to some coldwater stream. Now, as divorce looms, you tell him to take his creels, lures and rods — purchased from yard sales throughout your marriage — out of the garage. Unaware that the fishing lures are pricey collectibles, you want his tackle boxes gone.
After the divorce, you discover that those smelly fishing lures sell at sportsmen auctions for $500 to $1,500 each. You nearly cough up some bait when you to learn that a Giant Haskell lure sold for over $100,000 a few years ago. That fishing lure collection that you helped pay for, now could pay for your daughter’s college tuition!
Divorcing couples always have an appraisal of the family home. They should have an appraisal of the objects in that home, too. The objects represent a significant piece of the marital assets. Both of you should have had your personal property, including your joint property, appraised. Don’t negotiate until you have a correct identification and a current market analysis. Appraising these objects not only determines their current value, but also helps insure and protect items during a post-divorce move.
It may be the best time to obtain authority over the antiques or collectibles collection because those items appreciate in value.
Many divorce attorneys work in tandem with expert certified appraisers who can provide proper information and educational background to identify and give the true value of art, antiques, collectibles and other personal property. Get an appraisal before you negotiate. Even if you are happily married or blissfully single, update personal property appraisals for insurance purposes every two years.
Update appraisals when you have a child, when you receive an inheritance or when you move residences or purchase a home.
Watch Dr. Lori across the country on the Fine Living Network’s “Worth Every Penny.” For details, call 888-431-1010.
That’s Jon and Kate Gosselin of the popular TV reality show, “Jon and Kate Plus 8.” The TLC show documents the life of a Pennsylvania family raising two sets of multiples. The stresses of work and child-rearing (one child or a bunch) can drive anyone to the edge. Now, add into that mix a litany of their life’s other responsibilities, such as the groups of relentless paparazzi, who are paid to follow them around wherever they go, and all the rest of the issues that go along with having a highly rated TV show.
How can the Gosselin’s situation help the rest of us? Read on.
The marital issues that millions of couples face, including Jon and Kate, are not uncommon. Yet, most people find themselves unprepared when it comes to the nuts and bolts of evaluating personal property. When and if divorce threatens your marriage, I have some expertise to share.
Whether or not you have eight kids, here’s what you should know about your valuables when facing divorce.
You both agree that you are going to be reasonable and loving when it comes to your kids. You have retained child custody advocates, divorce attorneys and professionals in the field to assist you. You feel good about how you have dealt with your children in this trying time, but there is still great turmoil over objects that were acquired during your marriage. The first thing you need to do is to evaluate your stuff.
Consider this: You agree to let your soon-to-be-ex-wife have those Lladro figurines that you purchased in Spain on your 10th anniversary trip. You don’t need those dust collectors taking up shelf space next to your beer steins in your new bachelor pad.
After the divorce is finalized, you find out that one of those elongated porcelain ladies is worth $5,000. You’re furious that you didn’t know how much those ‘nic-nacs’ were worth.
On the other hand, your husband’s fishing hobby was wonderful, as long as you didn’t have to get up at the crack of dawn and go with him to some coldwater stream. Now, as divorce looms, you tell him to take his creels, lures and rods — purchased from yard sales throughout your marriage — out of the garage. Unaware that the fishing lures are pricey collectibles, you want his tackle boxes gone.
After the divorce, you discover that those smelly fishing lures sell at sportsmen auctions for $500 to $1,500 each. You nearly cough up some bait when you to learn that a Giant Haskell lure sold for over $100,000 a few years ago. That fishing lure collection that you helped pay for, now could pay for your daughter’s college tuition!
Divorcing couples always have an appraisal of the family home. They should have an appraisal of the objects in that home, too. The objects represent a significant piece of the marital assets. Both of you should have had your personal property, including your joint property, appraised. Don’t negotiate until you have a correct identification and a current market analysis. Appraising these objects not only determines their current value, but also helps insure and protect items during a post-divorce move.
It may be the best time to obtain authority over the antiques or collectibles collection because those items appreciate in value.
Many divorce attorneys work in tandem with expert certified appraisers who can provide proper information and educational background to identify and give the true value of art, antiques, collectibles and other personal property. Get an appraisal before you negotiate. Even if you are happily married or blissfully single, update personal property appraisals for insurance purposes every two years.
Update appraisals when you have a child, when you receive an inheritance or when you move residences or purchase a home.
Watch Dr. Lori across the country on the Fine Living Network’s “Worth Every Penny.” For details, call 888-431-1010.
