If you’re in a marriage where you have many high-value assets, it is important for you to get appraisals of all that property before dividing it. You should also place a focus on figuring out which assets are separate and which are marital.
Shared assets are subject to division in divorce. Tennessee is an equitable distribution state, which means that all of your assets that are subject to division should be divided equitably. That doesn’t mean they should be divided in half, necessarily.
In many cases, people choose to divide their assets around 50-50, but not in all. If you put more money into your marriage or you believe that adultery took place, you might want to negotiate for a larger portion of your assets, for example.
Appraisals matter in high-assets divorces
For your divorce, it’s helpful to get appraisals to review the overall value of the marital estate. For example, if you have several properties, you will want to have information on the current value of the properties as well as the value when they were purchased.
If the properties were purchased before marriage, they may not be subject to division, but there are exceptions. On top of that, any growth in the value of the properties may be divisible, which could improve the overall value of your case.
Some of the items you may want to get appraisals for include:
- Cryptocurrencies (to confirm the value at the time of purchase and separation)
These and other assets should have solid values attached to them to make it easier to negotiate your case.
Should you go to court to separate your property?
It certainly is an option to go to court to separate your property, but that’s not the only way you can do so. You may want to look into negotiating with your spouse directly, using alternative dispute resolution or working with your attorneys to negotiate a settlement. If you go to court, you will lose control over the outcome, though you can still make your case to the judge. For more control, it’s a better option to negotiate directly with your spouse if you are both willing to do so.