how to evaluate a household for divorce attorney

How do you value household items in a divorce?

Sep 09, 2009 · There may be opportunities for you to save money if you have a junior attorney working on certain aspects of a case—like, say, researching certain elements of law under the direction of a senior ...

What information should I keep during my divorce case?

Jan 11, 2018 · So, I ended up listing the rug at $800, instead of $5,000. Valuing household items is no easy task. You probably won’t have to put this much thought into the inventory, running the worst-case scenario in your head. But just in case your divorce is a doozy like mine was, take careful inventory.

Who can make statements in my divorce case?

Aug 05, 2019 · A professional appraisal from an unbiased third party is necessary to know the value of your home. The appraisal can serve as evidence of the market value of the home at the time of the divorce. Calculate Assets of Significant Value . Most divorce cases do not require a couple to determine the values of every object the couple owns.

How do I divide up my house in a divorce?

Mar 15, 2018 · Make a List. An important first step is writing a comprehensive list of the items you own together. In general, anything either spouse owned before the marriage is considered personal property and belongs to that spouse. Gifts are also generally considered personal property. Anything you acquired during the marriage is community property and ...

Does divorce mean valuing household items?

You would have to value your household items, divide them between your and your soon-to-be ex, and sell or dispose of the rest.

Should I value my household items if my husband doesn’t want them?

If your husband has agreed to give you all household items because he wants to divorce quickly, you don’t need to value them.

What do I do if I want kitchen items after divorce?

You would need to prepare a detailed list of kitchen items if you want them after divorce. If you have invested a lot in your stemware and dinnerwa...

How do I calculate the value of my kitchen items in divorce?

To calculate the value of your kitchen items in divorce, you would have to estimate how much you would need if you were to restock all these items....

How do I calculate the value of dining room items?

Research before you calculate dining room items because you may not know the actual worth of table and chairs. Check out several sites while resear...

What is property division in California?

Property division can be a challenging aspect of divorce in California. A married couple can accumulate many assets, including vehicles, homes, bank accounts, stocks, bonds and businesses. Dividing marital property in a split takes assessing the value of everything you own as a couple.

What does an appraiser do?

An appraiser will visit your home in person for an inspection. The appraiser will look at the exterior and interior of your home, as well as any property. A professional appraisal from an unbiased third party is necessary to know the value of your home. The appraisal can serve as evidence of the market value of the home at the time of the divorce.

Can a couple divide property in California?

You will have the opportunity to discuss which assets each spouse wishes to keep. In many cases – especially those that do not involve high-value assets – a couple can divide assets without court intervention.

Do you need to appraise items in divorce?

Most divorce cases do not require a couple to determine the values of every object the couple owns. Household goods and furniture, for example, may not need appraisals unless they are worth a significant amount of money, such as antiques. Instead, focus on high-value assets within the marriage. These may include artwork, jewelry, vehicles ...

Make a List

An important first step is writing a comprehensive list of the items you own together. In general, anything either spouse owned before the marriage is considered personal property and belongs to that spouse. Gifts are also generally considered personal property.

Strategies for Estimating Value

Many regular household items are low in value and aren't of concern to the court. If you're trying to decide how to fairly split the items, you might come up with an estimate of the value yourselves. Keep in mind that most items lose significant value after purchasing, even if they're only a few months old.

Appraisals for High-Value Items

Appraisals are an option for higher-ticket household items like valuable artwork or antiques. Keep in mind that an appraisal adds to your cost, so it's best only for high-value items. One way to decide what should be appraised is to set a minimum value. Anything that is likely worth more than that amount gets appraised.

Let a Third Party Decide

Can't decide how to split the items, or feel like your spouse is being greedy? A neutral third party like an arbitrator or mediator can help you figure out how to divide things. These options are generally much cheaper than letting your lawyers hash out the property division.

What information is needed to file a student loan?

Include all information such as balances owed, interest rate, payment schedule and the school, and what period of time you or your spouse received the loan.

What is an exhibit A on a grant deed?

Copy of the current Grant Deed (s) with Exhibit “A” (legal description) on each property that shows how title is held (if the title has been changed, provide copies of all deeds from the time of acquisition). The Deed of Trust or Note is not needed.

Who is Jason Crowley?

Jason Crowley is a divorce financial strategist, personal finance expert, and entrepreneur. Jason is the managing partner of Divorce Capital Planning, co-founder of Divorce Mortgage Advisors, and founder of Survive Divorce.

Do you need a financial analyst for divorce?

Depending on the complexity of your divorce, you may need a lot of documentation to give to your lawyer or Certified Divorce Financial Analyst . The more organized you are upfront will not only save you time and stress, but it will also save you money as well.

Do you have to disclose your finances during divorce?

If you’re in the dark about your finances, that’s okay. You and your spouse will be required to complete financial affidavits (disclosures) as part of the divorce process. The goal at this point is simply to begin identifying the puzzle pieces.

What happens to community property when you get divorced?

When you get divorced, community property is generally divided equally between the spouses, while each spouse gets to keep his or her separate property. Equitable distribution: In all other states, assets and earnings accumulated during marriages are divided equitably (fairly) but not necessarily equally.

How to divide property?

If you and your spouse are going to try to divide your property yourselves, here are some steps to get you started: 1 List your belongings. Working together, make a list of all of the items that you own jointly. Of course, you can omit items both of you agree are personal things of insignificant value. 2 Value the property. Try to agree on the value of anything worth more than a specific agreed amount, say $100 or $500. If there is a house, a business or anything that's difficult to value, get an opinion about that from some agreed-upon outside authority. 3 Decide on the logical owner. Now go through your main list, item by item, and decide whether there is some good reason to have each piece of property go to one or the other of you. Start with the biggest value items and see how far you can get. 4 Get the judge's approval. If you and your spouse can agree on dividing the property you own together, the court will normally approve whatever agreement you've reached. The only exception is when a party who doesn't have a lawyer seems to have agreed to take a lot less than half of the property.

What happens when a marriage ends in divorce?

When a marriage ends in divorce, however, it usually (and unfortunately) involves tough decisions and difficult discussions — including those concerning the fair division of property once shared during the union. In an ideal situation, the couple can work together to decide how to split up property, debts and assets.

What is collaborative mediation?

Mediation, arbitration and collaborative options allow the couple to be independently represented by counsel without incurring the full costs of a trial. The option that will work best for any couple depends on the level of disagreements between the spouses and the willingness to work together toward a resolution.

How are debts divided?

Debts are divided according to the same principles. Here is how property is divided up depending on where you live: Community property states: In some states, all married property is classified as either community or separate. When you get divorced, community property is generally divided equally between the spouses, ...

What is community property?

Community property is everything that both of you earned or acquired during your marriage (e.g., the money from your job that you placed into a joint checking account and used to pay bills or debts during your marriage). Property — like a house — bought with a combination of separate and community funds is generally considered community property.

Is an uncontested divorce more expensive than a contested divorce?

An uncontested divorce can be much less expensive than a contested divorce, saving you time, court costs and legal fees, as well as helping you avoid protracted disputes with your spouse. Contested divorces are what stereotypically come to mind when we think of divorce.

1. Separate personal items

When you’re dividing property, there are some items that will naturally stay with one partner or the other. This commonly includes items such as clothing and toiletries. However, there are other items that the law considers personal and are not subject to community property laws. This includes:

2. Appraise high-value items

Once you separate personal items, the next step is to determine the monetary value of all household items. Because the law requires a 50-50 division, this will help each partner feel they are getting their fair share. If you own any antiques, it’s a good idea to get these items appraised.

3. Make a list of what you want

There’s no point in fighting over your wedding china if only one of you wants it. Each partner needs to walk around the house and make a list of must-have items. After you both have done this, compare notes. Chances are, there are items that you want that your ex doesn’t mind giving up and vice versa.

4. Divide up the rest

It’s up to you and your ex how to split up the rest of your property, as long as you do it in an equal manner. Refer to the list you made in step two and make sure for each big item, the other person receives something of equivalent value. If neither one of you wants it, sell it and split the proceeds.

A few tips to make the process easier

Divorce isn’t easy on anyone. The more you can do to make this a stress-free transaction, the better. This includes:

How to choose a divorce attorney?

There are several things to look for when choosing a divorce attorney. You want to choose someone who is experienced, respected, competent, and affordable. If they are proving to not be a good fit though, change them. Because you can, even if the reason is that you don't get on with him or her. Bear in mind however that if an attorney has worked on your case, you'll have to pay her/him for their time. Also, it might damage your case to change attorney's when you are close to a court ordered deadline, so only do it after careful consideration.

How to start a divorce?

One of the best and simplest ways to do that is to start a divorce file. In this file, keep every bit of paper that could have an effect on how your divorce proceedings. Gather copies of all important financial documents and access to all account information. Keep it organized and easy to navigate.

What is fault based divorce?

Fault-based divorce is when one spouse committed an act that gives legal justification to the ending of the marriage. These acts include adultery, a felony conviction, cruelty, or desertion.

How much does a divorce cost?

Contested divorces cost anywhere from $15,000 to $30,000, though there are plenty of ways to limit the staunch the outward flow of cash before and during the process.

What does it mean to be uncontested in divorce?

An uncontested divorce means that you and your spouse agree child custody, spousal support, child support, visitation, and division of property. If you find that there is no need to fight over these things, you've already saved yourself thousands of dollars.

Is divorce law firm bigger than solo practice?

In any industry, the larger a company is, the bigger volume it's doing. Divorce law firms are no different, prompting many people to seek a solo practitioner who is more invested in the outcome of your case. Paradoxically, however, if the solo practitioner does not have adequate support staff in his or her office, your case may end up not getting the attention and care you were promised.

What is mediation in divorce?

Mediation is a process whereby you and your spouse sit down with a neutral third party to negotiate several important areas of divorce. It's a low-cost way to address practically any other disagreement you and your spouse may have. While the mediator's decision is not binding, it allows a neutral party to provide their perspective on how divorce related issues should be addressed. However, mediation can only be a useful tool if you and your spouse can come to an broad agreement.

What does the court look for in a marriage?

The court will look at each spouse’s education and whether either spouse is unable to work due to being the primary caretaker of children born of the marriage.

What factors are considered when awarding attorney fees?

In assessing whether to award attorney’s fees, the court will typically weigh several factors, including the earning capacity, needs, debt obligations, income (which includes money from retirement funds and trusts), and financial resources of each spouse .

What is alimony in Tennessee?

Under Tennessee law, there are four types of alimony: rehabilitative alimony; alimony solido, which is known as lump sum alimony; alimony in futuro, which is also referred to as periodic alimony; and, transition al alimony. Generally, an award of attorney’s fees constitutes alimony solido.

Is divorce emotionally draining?

Divorces are not only emotionally draining, but they are often financially draining as well. If you wish to seek a divorce and want your spouse to pay your legal fees, it is prudent to speak with an attorney to discuss your rights. At Cole Law Group, our experienced Tennessee divorce attorneys can assist you in protecting your interests throughout the divorce process. You can contact us at (615) 490-6020 or via the form online to set up a meeting to discuss your case.