A
few principles when you complete your
marital property statement
You must list all of your property.
–If you leave out property or fail to list it, your
dissolution may not be final. The
Court is required to divide all marital property. If you forget to put something down, you may find, even years later, your
spouse can come back to
court and ask that that property be divided.
You must value your property.
–The value of the property is “market value”.
This means what would someone pay
for your property today in it’s present condition. Sometimes we refer to that as “garage sale
value.” It is not what
it costs to
replace the item or what you originally paid for it.
