What standard applies to personal property in a divorce?
Fair market value: what the items would sell for used, today. Purchase price, insurance replacement cost, and sentimental value are all rejected measures, and courts expect values grounded in the current resale market rather than what the property meant to either spouse.
How do courts treat everyday household goods in divorce?
At resale prices that are usually a fraction of cost; a $2,000 living room set may be a $200 line item. Overvaluing routine contents is the most common mistake we see, and it regularly derails settlements over items a court will ultimately value low.
When is a formal appraisal worth commissioning in a divorce?
For high-value or disputed items: jewelry, art, antiques, collections, and equipment. Courts generally accept agreed self-determined values backed by comparable-sales research for the rest, while vehicles are handled with pricing guides plus loan payoffs to establish the net equity actually divided.
Is personal property valued the same way in every state?
No. Fair market value is the dominant standard, but valuation dates, methods, and the treatment of business interests are jurisdiction-specific; Pennsylvania, for example, ties divorce FMV to the IRS Treasury Regulation definitions. Title alone does not decide whether an asset is marital, so classification and valuation are separate questions.