Dividing Assets in Estates & Divorce
Equitable Distribution reports assist in the division of assets among heirs of an estate, or following the dissolution of marriage or other partnership by providing unbiased, objective analysis for your personal property. The division is based on a method agreed upon by the entities or is at the direction of a third party or court. In most cases Fair Market Value is required for equitable distribution appraisals, however in some cases Marketable Cash Value is requested.
Edward S. Curtis, A Family Group - Noatak (Plate 722), photogravure, c. 1928 (1)
Impartial Litigation Support
In the division of marital property, with the intention of attaining equitable distribution, it is common to sell the property and divide the monetary rewards of the event. This split, whether it is 50/50 or another elected percentage decided (previously in this case) by the court, would be applied to the division of those monetary rewards to both parties.
Should court testimony be required, McAllister/Fossum Appraisal Services provides professional, qualified and impartial litigation support and expert witness testimony for mediation and civil matters.
What is Fair Market Value
Fair Market Value (FMV) is defined in Treasury Regulation §1.170A-1(c)(2) as, “The price at which property would change hands between a willing buyer and a willing seller, neither being under any compulsion to buy or to sell and both having reasonable knowledge of relevant facts.”
Richard Gilkey, Untitled, oil on masonite, 31-1_2 x 23-1_2 inches, not dated
Equitable Distribution Appraisal Reports
We write our equitable distribution appraisal reports according to the rules and guidelines of the Uniform Standards of Professional Appraisal Practices (USPAP) set by the Appraisal Foundation, which is based in Washington D.C. Erin Fossum is an Accredited Member of the International Society of Appraisers (ISA) and follows the report writing guidelines and ethics that are imperative to writing quality appraisal reports. Our appraisal reports are accepted and respected by federal and state government agencies and courts of law. We have conducted hundreds of equitable distribution appraisals that have been used and accepted in legal venues.
What is Marketable Cash Value?
Marketable Cash Value (MCV) is the value realized, net of expenses, by a willing seller disposing of property in a competitive and open market to a willing buyer, both being reasonably knowledgeable of all relevant facts and neither being under any constraint to buy or sell.