Dividing collectibles in divorces

On Behalf of | Feb 27, 2017 | Family Law |

Recently, an old divorce-related photo has been making its rounds on the internet.

A recent Huffington Post article discussed the photo. According to the caption that accompanied the photo, the photo is from 1999 and it is of a courtroom of a family law judge. The photo is of individuals dividing up a pile of Beanie Babies in this courtroom. The splitting up of these stuffed animals was purportedly part of a divorce-related proceeding.

Our readers might remember Beanie Babies as being the source of quite a big craze in the late 90s.

One thing the photo serves as a reminder of is how much trends can shift over time. Beanie Babies once commanded some serious money on the collectibles market, but since the end of the craze prices have largely come back down to earth. What trends are out there when it comes to collectibles could potentially have impacts in divorces.

This is because of another thing that the photo underscores, and that is that the division of collectibles can be a significant issue in property division proceedings in a divorce. There all manner of different types of collectibles couples could end up acquiring during their marriage. Such collectibles could have a great deal of emotional value to the spouses and, in some cases, could also be worth a lot of money. So, how collectibles are divided in a divorce is something a person may care about quite a bit.

Now, as with other types of property in a divorce, it is important for a person to consider collectible-related property division issues in the context of their overall financial goals and interests. Skilled Michigan divorce attorneys can give individuals in the state guidance on handling issues related to dividing collectibles and other types of property in their divorce.

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