How does the court determine the value of a marital asset?
Obviously, some assets have a readily ascertainable value, such as a bank account, publicly traded stock, etc. If the parties can not agree on the value of other assets, there must be a determination of the value in order for the court to be able to make an informed determination. The value of assets such as homes, cars, jewelry, etc., can be determined by obtaining appraisals from qualified experts. The value of pensions and retirement accounts may also be determined from an evaluation. Assets such as the value of a business, is often more troublesome. In those situations it is usually necessary to retain the services of accountants and other experts to do financial evaluations. This process can often become relatively expensive and time consuming. Unless the parties agree to accept the value determined by one expert, the court will have to take evidence and testimony and make a determination based upon the evidence as to the value of the property.
