Steve,
OK, I have no actual experience with this, and
limited knowledge, so of course I will throw in
my two cents anyway! It seems to me that
divorces are usually a big negotiation between
the two sides. In this case, what matters is
finding a valuation method that you both can
accept. It can be anything from looking them up
online to hiring a professional appraiser. Even
if you do that, it has to be someone you both
agree to accept. Then the negotiation will
involve what to do with the cars, given the
determined value. It could be you get two, she
gets two. Or you get them all and she gets some
other stuff of equivalent value. Or you sell
them all and split the proceeds. I would think
your lawyer would be the one advising you through all of this.
Now, the other way things can go is that you both
never agree on anything and the whole thing ends
up in court. In this case, I would think the
exact valuation method is more critical, in that
it has to be accepted by the court. I would
guess that a professional appraiser would be
mandatory in this case. Again, I would think
your lawyer would be advising you.
I can't imagine that any of this is particularly
unusual. Everybody has "stuff" whether it is
LBCs or motorcycles or boats or modern
vehicles. The more you can both agree to the
better off you both will be. The more you fight,
the richer the lawyers get. Also, when getting
advice on the Internet remember that there are
differences based on what state you live in.
I don't know if any of this helps. I do wish you
all the best and hope you can get on with your life without too much pain.
-Steve
At 06:20 AM 9/9/2016, daybell7--- via Mgs wrote:
>Help please!
>
>I feel I know the fair market value for my cars
>- basically the price Iâ??d sell them for. I
>also have them insured for a greater value due
>to the incremental way insurance is sold. Wife thinks they are made of gold.
>
>Iâ??ve owned LBCs for 35 years (not current
>cars) and done all work except paint. I usually
>struggle through repairs but finally manage.
>
>I think I know the best way to find the
>valuation is to hire an appraiser, but short of
>that, does anyone have experience or thoughts
>how to handle LBC valuation in a divorce?
>
>I have four cars, â??72 MGB, â??68 BGT, â??73
>TR6, â??59 Minor. One solution is to pick and
>choose - I get two and wife gets two.
>
>TR6 and MGB drivable. BGT & Minor not
>drivable. Paint on Minor original; all others
>over 10 years. Tires on all over 10 years.
_______________________________________________
Mgs@autox.team.net
Archive: http://www.team.net/archive
Unsubscribe: http://autox.team.net/mailman/options/mgs/mharc@autox.team.net
|