i am trying to sort out a settlement with my wife before we spend vast unnecessary amounts on legal fees, we have reached stalemate on the jewellery my wife has, rings, bracelets, pendants, watches etc value approx £30,000, i am led to believe its all part of the joint assets when it comes to valuing all, my wife disputes this, hence the stalemate, any leagl advice is very welcome, thanks
When i filled in my form E it asked for any item worth over £500 so I would guess that your ex is banking on none of the items individually being worth more than that sum, however I would say that you could raise a question about the jewellery and descibe it all as a collection and ask for a valuation of the same
I am in a similar situation as my stbx has a collection of expensive watches which he has not declared, relying I suppose on the fact that none of them are individually worth more than £500 - I haven''t pursued that line .... yet !
Second hand jewellery does not achieve the value that one might expect.
30k worth is likely to be valued significantly less for resale purposes.
My jewellery which cost in the same region has been valued by an Independant expert at 6k.
In a divorce it is considered unlikely that your wife will sell her jewellery, and it may be that the court will consider it unreasonable of you to expect her todo so, would you sell your golf clubs?
These are gifts of the marriage,if you are dead set that these are to be considered an asset get a valuation for the purpose of divorce proceedings, but be prepared for a rude awakening.
thanks for the quick reply, could be a good news reply as most pieces are worth more than £500.00, i really need a difinative legal answer as my wife is very quick to dispute the wording of replies, so if its a legal requirement then she will reluctantly accept.
On another subject i have read that future inheritances can be brought into the equation her parents are elderly mine have passed away, "its substantial" once again information given to me says unless in the pot now then its a no no, having read an article earlier i now read it differently, confussed.
thanks once again
thank you for your reply, i have had them valued in the last month and thats the valuation given to me, i was told that all assets have to be valued, golf clubs included, its not my intention to sell anything but to try get a value of our total assets split equally and secure funding to settle, it goes without saying that the jewellery bought for my wife would stay with her as the golf clubs would with me, but surely this all adds up to equallising the assets and then having a settling balance, so both parties can feel that parity has been acheived, or ?? thank you once again for your reply