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Divorce battle wife going after coin collection. Suggestions?
MajorDuty
Posts: 1,998
Let's say, hypothetically speaking, my wife took stock of every single coin in my collection and will be going after their value in divorce proceedings. What do you, legally, suggest?
Assume both parties have good lawyers, and you're not going to do something stupid like sell the collection off to a 'friend' for pennies, or now hide them after they've been cataloged in their entirety, or anything else like that, that could lead to contempt of court. What is the best way to handle keeping your collection, at least the coins you really want to keep. I guess in other words, how would one show their value to be as little as possible so that if you have to buy them (50% community), again, you spend as little as possible?
Assume both parties have good lawyers, and you're not going to do something stupid like sell the collection off to a 'friend' for pennies, or now hide them after they've been cataloged in their entirety, or anything else like that, that could lead to contempt of court. What is the best way to handle keeping your collection, at least the coins you really want to keep. I guess in other words, how would one show their value to be as little as possible so that if you have to buy them (50% community), again, you spend as little as possible?
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out for what I sell. Like I said "lose" the keys.
``https://ebay.us/m/KxolR5
Doggedly collecting coins of the Central American Republic.
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That way the lien holder would take ownership...
<< <i>Fighting over Statehood Quarters
Wish it were that simple. Several very nice types were recently required including a nice doily commemorative, stickered. Funny joke, though. There's also a prized Jefferson collection that has gone through more than one upgrade. Gold. Silver. The usual sh1t.
I like the suggestion above - Start a good inventory on her jewelry . . . and HER FAVORITE items, and play like you want them.
Best place to look for lowest value is ebay completed listings for each coin, under advanced search.
Maybe you could just slab the wife and keep the coins?
"A car is a tool that takes you from one place to another. Everything beyond that is a payment for other people's perception of you."
I like Andy's idea ... particularly if you have some things in your collection you don't really want.
I also agree that if this is the case, you have the same type of appraisal done on other valuables,
such as jewelry, silver, etc.
“We are only their care-takers,” he posed, “if we take good care of them, then centuries from now they may still be here … ”
Todd - BHNC #242
<< <i>Depends on your state of residence, source of funds used to buy coins, definition of “marital property,” etc. You need a lawyer not a message board. >>
Call me stupid but I actually would consider some replies on this "message board" from those experienced over a lawyer who knows nothing about coins. I believe I actually have credit, going over the community property I do not want, which might help "pay for" the collection, but this is one clever, angry broad I'd be dealing with here. Hey my love, you take this and that and I'll take the coins. Problem is, she'd go after them just to stick it to me. If this situation was real, that is ;-]
<< <i>you should never have let her get that inventory >>
Well, .... some may have gone...
<< <i>
<< <i>Fighting over Statehood Quarters
Wish it were that simple. Several very nice types were recently required including a nice doily commemorative, stickered. Funny joke, though. There's also a prized Jefferson collection that has gone through more than one upgrade. Gold. Silver. The usual sh1t. >>
Doesnt sound like a hypothetical situation anymore. Best of luck. Pennyannie makes a good point about the tiffany and jewelry.....perhaps you want to take inventory of her shoe closet.
Proud recipient of Y.S. Award on 07/26/08.
Lock & Load....................
<< <i>Probably not "legal" but sell them to a "friend" and buy them back after the divorce. >>
LOL
"....not going to do something stupid like sell the collection off to a 'friend' for pennies,...."
them and move on with life best you can.
I don't have any advice for you..... but for other married men out there....... don't tell your wife more than she needs to know when it comes to your coins, and have your own safe deposit box. Having a son make this so much easier because you can tell him about the safe-deposit box in case something would happen to you. If you can't do that, tell your brother or sister about the box.
<< <i>.....perhaps you want to take inventory of her shoe closet. >>
Gawd what a daunting task that would be.
and grab the knees....And hope for a few cherished ones. One attempt to hide anything that gets discovered by her
attorney will lessen your chance of getting anything.
Remember Paypal and CC records as well as bank statments will tell where your money has gone..
Divorce sucks...
<< <i>She should get half of the value you two have accumulated. I would get full appraisal on her jewelry and ask for the ones you know she wants. >>
I really don't think there is any that is community property.
<< <i>I would think she should be responsible for proving through receipts or credit card history that they were bought prior to marriage. >>
This is a good question since there are very few receipts as most coins were purchased with funds that are not directly traceable but just like she can't prove through receipts they are community property I cannot prove they are private property. Hopefully when all the other assets' value starts accumulating the coins will seem trivial in comparison. Like I said, though, she's going to make a play for them just because she knows I want them. Some women are venomous that way.
Never again....
<< <i>Does she know you post here and/or have your username? >>
I would not be surprised, which is why I am not admitting to anything specific, like selling all my St. Gaudens Double Eagles to my best friend at face just weeks before the inventory was taken ;-]
``https://ebay.us/m/KxolR5
I'm really sorry to hear about this hypothetical situation, and I hope that it works out OK for everyone involved. Hypothetically, of course
Check out my current listings: https://ebay.com/sch/khunt/m.html?_ipg=200&_sop=12&_rdc=1
<< <i>Dip her half of the coins, ..... >>
That's kind of funny.
<< <i>A good wife will leave your orbs out of it. >>
She isnt good......hence the pending divorce.
Proud recipient of Y.S. Award on 07/26/08.
Make certain your lawyer is a hostile and evil person. Two
lawyers are better than one. NEVER hire a woman-lawyer;
they are hopelessly biased and will destroy your case.
The first step is to get your head around the concept that
your coins might soon be history. Hopefully, they can help
you make the best deal possible on other parts of the marital
estate.
If you are in the coin business, the sale of coins in the ordinary
course of that business is not fraudulent, post-filing, provided
full disclosure/accounting is given to the court.
MOST wives don't want the coins. They DO want to convince
the court that the coins are "worth millions and my husband
should have them all, AND I should get EVERYTHING else."
The courts have a sexist view of collectibles. Barbie-Dolls
tend to be awarded to wives; husbands get the coins, EVEN
if they don't want them and feel they have been over-valued.
Thus, it is critical that the coins be valued "correctly."
Wives tend to produce "insurance appraisals" as evidence of
value. Smart husbands produce written BUY offers from famous
or reputable coin vendors; such vendors are usually deposed so
make sure they know their stuff.
Often, husbands can turn the tables on the insurance appraisal
frauds that wives tend to push. If your coins are over-valued
for insurance purposes, HER jewelry will be, too. Your lawyer
can likely force the court to accept the inflated jewelry numbers,
if you get stuck with grossly-inflated coin numbers.
Settlements are about offsets. The things you want moved to your
side of the charts are valuable. The things you want sent to her
chart-squares are less valuable.
In a down real-estate market, wives will claim the houses are not
worth much. It is generally in the husband's interest if the marital
home can be shown to be SUPER VALUABLE. This allows the court
to "favor" the wife and let her park her backside in the house, while
giving the husband maximum possible credits on other assets.
Cash, Real Property and Retirement/Investment Accounts are usually
the best spoils. Try for those, and remember you are in a WAR.
Get your head out of the past; forget about pity; forget being generous.
She wants you dead, and the only reason divorce is in play is because
murder is illegal and hard to get away with. She is your mortal enemy.
If you cannot embrace these notions, you might as well throw-in the
towel and let her toss your broke self into the gutter, BEFORE you
waste money on your legal fees.
Good Luck!
Michael Kittle Rare Coins --- 1908-S Indian Head Cent Grading Set --- No. 1 1909 Mint Set --- Kittlecoins on Facebook --- Long Beach Table 700
<< <i>she's going to make a play for them just because she knows I want them. Some women are venomous that way.
Never again... >>
If she is really that venomous, it might be worth it to give her ALL the coins.
I'm pretty sure that if you gave her the jewelry it is not part of the loot to be split.
Never say never.....a lot of us make the same mistakes over and over.
Keep a record of the coins that were purchased before you were married.
Come up with a fair market value on the coins that were purchased after you got married and then divide by two.
The name is LEE!
I like the suggestion above - Start a good inventory on her jewelry . . . and HER FAVORITE items, and play like you want them't
Sorry Charlie, this no workie.
Jewelry is hers to keep, it was a gift. Coins are considered an Asset and is marital property unless she specifically gave them to you as gifts.