There are several ways to value this type of property. One way is for the parties to agree on the values. This should be the goal and it is certainly the easiest and least expensive method to value the assets. If the parties can agree to the values of the marital assets, it makes the equitable division of those assets much simpler.

However, if the spouses cannot agree upon the value, either party could hire an independent expert to value the property—or the parties could hire a joint independent expert to value the property and agree to be bound by that expert’s determination. With valuable artwork, jewelry, or other luxury items the better approach is to have the property valued by an expert.

While certainly useful to have such an expert during litigation or even negotiations, one isn’t required. An owner of property is generally permitted to provide an opinion about the value of the marital property—but unless everyone agrees to the value, that owner’s opinion will certainly be challenged by the other spouse (or the other spouse’s expert) during litigation.