I have read a lot about making a schedule for personal property. What kind of granularity does the court usually expect? I mean do you list only things of true value, expensive art, collectables, etc. Or do you list things like a sofa, coffee table, 50.00 watch, appliances, etc.? Do you really have to go through your house, and list everything in it? Just kind of curious what is expected when you have to do a personal property schedule.
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As to how specific, here again, it lies with the District/State. Your Attorney should give you a packet (large) and in their will be the way he wants you to list your personal property.
I was heartbroken when I began this process last year, as I have inherited some old pieces of furniture and when perusing Craig's List, using google or even E-Bay, they weren't very expensive.
You are supposed to price your personal property as if it would be sold all at once in a garage sale or an auction. Jewerly, furs & guns are a little different as they seem to hold their value.
Get the 'sentimential' emotion out of your head, while going through this process. Picture, in your mind, being at a garage sale & what you would paid for a certain item.
My personal property list is quite detailed. I figure the Paralegal will 'lump' some into categories. Gee, I even went so far as to Print where I found the price for each item.
Luci -
The salvation army and goodwill have great valuation lists on their websites. Our attorney wanted us to make a list of each individual item and assign a value. He did not want the list just the totals for clothing, furniture, collections, appliances, electronics and misc. He did not want to know that we had 25 pairs of pants and how much each was worth just the total value of all clothing. He also wanted to know of any item worth over $500.Comment
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That's a good idea...I hadn't thought of to look there for values.Originally posted by eddiep View Post
I was wondering what I should put for my living room furniture. I think it's value is negative due to the fact that it's been destroyed by my cats and dogs.Comment
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It is a great list, I printed the list and used it as a check list. I walked around counting chairs and CDs etc.
It is ok to list the value as 0 if that is what it is really worth.
There was a very funny posting by beeheery's couch that you have to read!
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Yeah, I saw that
Mine is not that bad, but the dogs and cats seem to think they own the furniture.
My fault though because I didn't really think it through when I bought "suede like" beige'ish furniture 4 yrs ago.
We try to keep it covered with sheets.
We really have nothing of value in our home so our list will be sad. But, I guess it's better than trying to justify a house full of expensive items.Comment
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