Benefits Of Jewellery Valuation In Divorce Settlement

Divorce is a complex process which can drain you mentally and emotionally at times. In such a complex scenario, keeping your emotional wellbeing aside for the time, you carry out all the legal process which is necessary for a divorce settlement. Jewellery in divorce settlement has an important role to play which you cannot ignore at all. An accurate and duly evaluation of your jewellery during divorce settlement is a necessary step to equally distribute the asset between both the parties. The evaluation of jewellery during divorce settlement, therefore benefits you in so many ways as it involves some important steps, ranging from exact valuation of the fiscal amount to reducing conflicts between the two parties. In this article we shall be delving at some of the important benefits of the evaluation of jewellery during divorce settlement.

Exact Valuation of the Jewellery

One of the benefits which you get from evaluating your jewellery is getting the exact value of it which keeps on fluctuating as per the market value. In a marital life, some of the common jewellery pieces include, engagement rings, marriage bands, family heirlooms and some other valuable jewellery pieces exchanged as gifts between both the parties. Therefore, in case of a divorce settlement, it is to undertake the process of jewellery valuation from a professional valuer. An expert and experienced jewellery valuer can give the exact worth of the jewellery by examining its originality, authenticity, age, condition, shine, lustre of the metal and gemstones used in designing the jewellery. Apart from that the value is determined by looking at the brand or the designer of the jewellery and whether it is hallmarked or not. The exact valuation of the jewellery makes the process of distribution of the asset easier during the divorce settlement.

Equal and Fair Distribution between the Parties

Evaluating the jewellery during divorce settlement leads to the equal and fair distribution of the assets between the parties. Jewellery is a connubial property which is subject to division in case of a divorce because it is one of the assets which is exchanged between the two parties as gifts or family heirlooms during the phase of their marital bliss. Therefore, the proper valuation of the jewellery is a pivotal step to ensure fair distribution of the assets by fair means.

Reduces Conflicts and Controversies

Divorce often leads to a lot of conflicts and controversies during the equal distribution of the assets as it is an emotional roller coaster ride which drains the person from within. Jewellery valuations in this process reduces the conflicts and controversies between the parties to a great extent. It further leads to the smooth procedure and an amiable parting between both the parties. A formal valuation in this legal procedure, does not lead to any discrepancies which may affect one party negatively. Therefore, evaluating the jewellery in this process is considered a wise decision to reduce conflicts.

Helps in Legal Proceedings

Sometimes, a divorce settlement leads to a legal proceeding where court plays a pivotal role in equal distribution of the jewellery and other important assets between the parties. Evaluating your jewellery from an expert and experienced valuer helps in carrying out the legal proceedings smoothly without leading to any obstacles or delay. A formal valuation report of the jewellery ensures the court that the value of the jewellery mentioned in the documents is exact and accurate and according to that the assets are distributed. This further ensures that there are no disputes or discrepancies arise from either of the parties and hence, the proceeding takes place properly..

Summing Up

Jewellery is an important asset in everyone’s life. People purchase and wear jewellery not just to look elegant and enhance their status in the society, but also to secure their future, so that when an unwanted situation arises, it helps them immensely. Evaluating your jewellery is not just an important aspect for divorce settlement, rather for various other situations as well. For instance, in case of a death in the family, it is the probate jewellery valuation which leads to the equal distribution of the jewellery among the family members. A proper valuation ensures a safe and secure future for both the parties and avoids disputes which may arise during the process.