Posted on December 21, 2021
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A divorce client in my Brentwood, TN office asked me today about how to divide the furniture and furnsihings.  His wife told him she wanted to keep all of the furniture and furnishings and she did not have to pay him anyhting for these items.  He in turn said he did not want any of the furniture and furnishings in the marital residence as they were not his style.  He said he wanted to buy all new furniture for his new residence and have the wife pay for half the cost of all new items.

I explained to the wife and husband that attorneys tell me the law will typically assign Craig's List values to furniture and furnishings in the marital residence.  So even though the recently purchased couch cost was $5,000, if Craig's List couches cost about $500, that is a realistic value to assign to the couch.  Unfortunatley, you don't get much for used furniture.

Also, I explained attorneys tell me if the husband decides he does not want any of the household items, wife will not be required to pay husband for half the value of these new items.  She will need to pay husband for half the Craig's List value of the household items she will keep and husband can use these funds and his separate funds to pay for the new furnishings for his new residence.

After I explained these issues to both spouses, they realized this solution made sense and they both calmed down.  Many times emotions run high in divorce and we take great pride in our ability to diffuse tense situations so they do not escalate and result in intense emotional distress and excessive attorney fees.

We understand divorce is a stressful event.  But, most divorce situations can be worked out between the spouses after they understand their options.  If you are divorcing, we encourage you to take a deep breath, listen to objective information and to then make smart choices.  Calm people typically make better choices. 

Posted in: Finances