Some assets that couples must divide when they divorce obviously belong to both spouses. The retirement savings they established and the equity they accrued in their home are subject to division in the vast majority of divorce scenarios.
Other assets may theoretically belong to both spouses even though one spouse may have acquired those assets. Collections accumulated during a marriage can be part of the marital estate. Even if one spouse does not want to keep the niche assets acquired by the other, they may need to look at those resources carefully. Certain types of collections can be highly valuable and could have a profound impact on property division proceedings.
The bottles gathering dust in a wine cellar
Collecting wine can be as much about prestige as it is about pleasure. People often seek out wines that they personally enjoy or ones that are hard to obtain. The goal can be bragging rights or the enjoyment of a perfect bottle of wine in the right situation. Even in scenarios where only one spouse wants to keep the contents of the wine cellar, it may be necessary to value the bottles accrued during the marriage, as some wines can be worth hundreds or even thousands of dollars per bottle.
The contents of a jewelry box or watch case
The accessories that people wear can be worth quite a bit of money. Jewelry that women acquire during marriage and watches that men purchase while married are technically part of the marital estate. A woman probably does not want to receive some of the watches her husband accumulated, nor does a man typically want the Sapphires or emeralds his wife purchased. Jewelry can be a very costly type of collection that warrants careful consideration in preparation for a divorce.
Couture clothing, bags and briefcases
Either spouse might have accumulated a high-value wardrobe during the marriage. From tailored suits to vintage Chanel dresses, the contents of someone’s closet can be worth tens of thousands of dollars. Even though spouses likely intend to keep their own clothing, determining what the highest-value garments accumulated during the marriage are worth can be an important step.
Knowing what personal property is worth in addition to valuing the highest-value assets accumulated during marriage can lead to the most appropriate and reasonable property division outcome possible. Spouses who are aware of the value of marital property can use that information to negotiate appropriate arrangements.
