Inventory Services for Divorce/Family Law
A full, unbiased inventory of marital property levels the field to protect what’s yours.
A professional home inventory service provides the documentation you and your attorney need to protect your assets, saving time (and money) in the process.
The fair division of property is a fundamental part of the divorce process. Belongings accumulated over years of marriage must be identified and assigned, making it one of the most difficult and emotional tasks. An early and accurate inventory by a third-party expert greatly reduces the time and stress that comes with identifying, validating and arguing over community assets and separate property. That helps both parties ideally reach a better, and more economical, outcome, faster.
TakeStock’s home inventory service, including our TakeStock360° experience, simplifies and streamlines the division of property during divorce. The ability to take a “virtual snapshot” of the joint household from which individual and annotated inventory lists can be created is unique, and can be applied to the division of assets in marriages, civil unions and domestic partnerships. It is also strongly recommended as an inclusion in pre-nuptial agreements to avoid future issues.
Alleviating the Stress of Personal Property Settlement During Divorce
At the onset of divorce, a comprehensive home inventory should be the first item on your must-do list. This master catalog of your joint household provides an upfront, objective verification of marital assets—facts you need to protect your personal property and get what you deserve.
According to the National Center for Health Statistics, 40% of marriages will end in divorce. That’s over a million separations, with each one involving all of the emotional, financial, logistical and property issues that result from such a difficult and life-changing decision. A good lawyer, financial planner and therapist can assist in a number of these matters, but for the property settlement portion of the proceedings, a professional residential inventory provides the documentation and assurance needed to protect one’s assets, saving time and money in the process.
The average marriage lasts long enough to ensure that the family accumulates a large volume of personal property. The fair division of this property is a fundamental part of the divorce process. From everyday items to irreplaceable family heirlooms, the shared possessions that have accumulated over years of marriage must be identified and assigned to a single owner, making it one of the most difficult and emotional tasks during divorce.
It’s hard to amicably divide belongings between parties when they are not exactly sure of what they own together. An early and accurate home inventory created by experts will greatly reduce the time and stress that comes with identifying and validating common assets. Additionally, a family law judge cannot award items that are undocumented, so knowing and presenting each item avoids further problems while shortening the property settlement process.
A TakeStock home inventory streamlines and simplifies the process of claiming, dividing and assigning assets. An effective home inventory for a divorce property settlement will have the following characteristics:
- Be performed by a third-party expert – The bonded and insured professionals of TakeStock visit your premises to create a comprehensive home asset inventory, whether visually (virtually) and/or by master list. Neither party to the divorce proceedings is required to be present while the company performs the services.
- Verify the location of each item – TakeStock will capture multiple images while providing a verified location for each item, ensuring you know exactly what and where each item is on your home.
- Allow both parties to view Items online privately and separately – Each party should be able to view their home and home inventory list easily online and reference the items they desire. This is very helpful for reducing the time and stress that comes with identifying, validating and arguing over community assets and separate property.
- Allow for mutually desired items to be cross-referenced for the final list – TakeStock simplifies and streamlines the fair division of mutually desired items via their expertise and specialized proprietary software. Reports can be generated indicating pre-marital ownership, or showing only those items in dispute between parties. This is much more precise—and convenient— than simply making a list of items each party wants.
- Assists in providing an estimated value for each item in the home – TakeStock can help facilitate establishing values for items, including professional valuation and appraisal services.
The earlier a professional is engaged to perform your home inventory, the better the protection for one—or both—parties in property settlement proceedings.
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Contact TakeStock, the personal property inventory experts, to schedule a free consultation.
“TakeStock has provided a great service for dividing my client’s sole and separate property assets. The third-party, unbiased approach not only saved time and money, but also provided accurate documentation to settle disputes.” T. Evans, Family Law Attorney, Dallas, TX