Estate Sales And Divorces: When Does It Make Sense?
Most people are familiar with an estate sale that occurs after death. But an estate sale can occur any time an estate has to be liquidated -- such as during a divorce. An estate sale can actually be the fastest, easiest, and most streamlined way to resolve many divorce disputes. It all depends on the divorce in question,
Is There a Lot of Property That Has to be Sold?
Sometimes a couple may have accumulated property that they simply don't need. They may be selling a house during their divorce -- and, consequently, the items within it. In this situation an estate sale is simply going to be the expedient way to liquidate all assets at once. Otherwise the individuals in question may need to go over every single item one by one to decide who is going to get which item and which item will be sold by whom.
Is There a Real Estate Item in Dispute?
Consider a scenario in which both individuals own a 50/50 stake in the family home -- but one of them does not want to move. In this situation, the other half needs to be bought out... but the spouse who is staying may not have the funds to do so. In this case, a liquidation sale may be necessary so that one spouse can pay off the other spouse for their half of the property.
Are There Valuable Items That Haven't Been Appraised?
If a couple has a lot of items that are "uncertain" in value, then an agency for estate sales is going to be a very convenient choice. They will be able to price items accordingly and will be able to sell them immediately -- rather than having to go through the process of an appraisal and then an auction house or other sale. Many couples are going to have accumulated property that isn't clear in its value, especially if it is a collectible that may have appreciated in time. Not having a clear value can greatly complicate divorce proceedings and negotiations.
Every divorce is unique, due to the combined assets of a married couple shifting over time. An estate sale will generally make sense if there are large portions that need to be liquidated or that are in dispute. Sometimes getting a divorce done faster can be more affordable than trying to get it done completely equitably. For more info on estate sales, talk to a professional like Remember When Estate Sales, LLC.