When dividing community property, what about collectibles?

When dividing community property, what about collectibles?

On Behalf of | Jan 11, 2023 | Asset And Property Division

In a divorce, spouses typically target the largest assets – the house, vacation home, investments and retirement accounts. But if you are not careful, you can leave large sums of money on the negotiating table by not including collectibles when dividing property.

But before you can develop a strong negotiating strategy, you must first determine the values of the property in the collections owned by you and your soon-to-be ex-spouse. We included a few tips to help you get started.

Don’t guesstimate – valuate

While you may have accumulated quite a collection of antiques, art, wine or even rock ‘n’ roll memorabilia, you likely can only come up with a ballpark figure of its true worth. While some markets are more stable than others, e.g., art, even that could fluctuate greatly — especially if the artist recently passed away.

Some collections are harder to value than others

Especially if it was your spouse collecting these items, you could perceive many quite valuable pieces as mere “junk.” For instance, a Neal Peart drumstick used once during a Rush tour date recently sold for $999.99! 

But you wouldn’t know that if you aren’t savvy about the value of your spouse’s collectible items. Remember, as Texas is a community property state, the value and appreciation or depreciation of collectibles acquired during the marriage can have a major effect on your property settlement.

Don’t get shortchanged

Divorce can be difficult enough without losing your shirt in the process. We understand how to best leverage your settlement options to allow you to walk away with all you need to begin your new life.