Having purchased The Pie, you now have an idea about all of the assets, debts and superannuation that you’re aware of and the values, as well as whether there are any gaps that need filling.
Think you can work out an agreement with your partner without lawyers?
Don’t waste your precious energy and time arguing over what things are worth. Outsource it and get some appraisals.
- For cars and motorcycles, you can visit RedBook to get a free appraisal.
- For real estate, get 2-3 appraisals from different real estate agents to get a rough idea of what the property is worth. If there is an outlier (one that quotes a much higher or lower value than the others), consider getting another one or two appraisals or simply get a formal paid family law valuation.
- For shares in publicly listed companies, visit the company’s website to find out about the current date value of each share. Also find a recent share dividend member statement to identify the number of shares that are owned.
- To work out the value of any tools, furniture or household contents, have a look at Pickles Auctioneers or Gumtree to get a rough idea about what these things might be worth. From a family law perspective, the value to use is the fire sale value.
- For businesses and companies in which you or your partner have an interest in, you’ll need to speak with your accountant to find out about the business’s value.
Read up on Part 3 ‘Splitting The Pie: How to’