When divorce includes property division claims, one of the more difficult tasks is determining how to value the assets, which must be done unless the parties can agree on values.
For real estate we usually need a formal appraisal, although sometimes a realtor letter will do. To get net value, we need payoff statements for all mortgages, liens and tax balances.
For bank and securities accounts, we need copies of statements for the relevant dates, which may be as of date of marriage, opening of the accounts, date of separation and presently. Your lawyer will advise which is appropriate and necessary.
For valuable personal property, such as jewelry, art, collections, antiques, electronics and the like, specialized appraisers may be needed, but they are expensive. Home insurance policy addendums would be helpful.
For retirement plans, lawyers usually engage a specialized actuary to calculate the values acceptable to a Court under our case law.
All this may seem daunting, but our experience can help us work with you on it.
David I. Grunfeld