See below article about Russell Crowe selling memorabilia and collections following his divorce.
When parties separate to effect a financial settlement they need to agree on the value of the assets to arrive at a just and equitable outcome.
If parties do not agree, expert valuations may be required. The sale of assets will determine the true market value.
If you are going through a separation, try your best to agree on the value of the assets. Failing that, obtain appraisals or informal valuations to support your position.
In Family Law the value of assets is the current market value and not the purchased price, how much you spent on it or the insured value.
If you need any advice regarding the value of assets or valuation of the asset pool, please do not hesitate to contact Holden Barlow Family Lawyers Perth on 9221 7122 or to book an initial consultation appointment click here.