Subject: [Mgs] LBC Valuation in Divorce

From: daybell7--- via Mgs <[email-masked]>
Date: Fri, 9 Sep 2016 10:20:28 +0000

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From: Robert Rutherford via Mgs <[email-masked]>
Date: Fri, 9 Sep 2016 13:21:04 -0700

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Flip a coin. Winner keeps the coin. Loser has to take all the cars. ;-)
> On Sep 9, 2016, at 3:20 AM, daybell7--- via Mgs <[email-masked]> =
wrote:
>=20
> Help please!
>=20
> I feel I know the fair market value for my cars - basically the price =
I=E2=80=99d sell them for.  I also have them insured for a greater value =
due to the incremental way insurance is sold.   Wife thinks they are =
made of gold.
>=20
> I=E2=80=99ve owned LBCs for 35 years (not current cars) and done all =
work except paint.  I usually struggle through repairs but finally =
manage. =20
>=20
> I think I know the best way to find the valuation is to hire an =
appraiser, but short of that, does anyone have experience or thoughts =
how to handle LBC valuation in a divorce?  =20
>=20
> I have four cars, =E2=80=9872 MGB, =E2=80=9868 BGT, =E2=80=9873 TR6, =
=E2=80=9859 Minor.  One solution is to pick and choose -  I get two and =
wife gets two. =20
>=20
> TR6 and MGB drivable.  BGT & Minor not drivable.  Paint on Minor =
original; all others over 10 years.  Tires on all over 10 years. =20
>=20
> Thanks for input (even humor).
> Steve Hughes
> Gainesville, FL
>=20
>=20
>=20
>=20
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<html><head><meta http-equiv=3D"Content-Type" content=3D"text/html =
charset=3Dutf-8"></head><body style=3D"word-wrap: break-word; =
-webkit-nbsp-mode: space; -webkit-line-break: after-white-space;" =
class=3D"">Flip a coin. Winner keeps the coin. Loser has to take all the =
cars. ;-)<br class=3D""><div><blockquote type=3D"cite" class=3D""><div =
class=3D"">On Sep 9, 2016, at 3:20 AM, daybell7--- via Mgs &lt;<a =
href=3D"mailto:[email-masked]" class=3D"">[email-masked]</a>&gt; =
wrote:</div><br class=3D"Apple-interchange-newline"><div class=3D""><div =
data-externalstyle=3D"false" dir=3D"ltr" style=3D"font-style: normal; =
font-variant-caps: normal; font-weight: normal; letter-spacing: normal; =
orphans: auto; text-align: start; text-indent: 0px; text-transform: =
none; white-space: normal; widows: auto; word-spacing: 0px; =
-webkit-text-stroke-width: 0px; font-family: Calibri, 'Segoe UI', =
Meiryo, 'Microsoft YaHei UI', 'Microsoft JhengHei UI', 'Malgun Gothic', =
sans-serif; font-size: 12pt;" class=3D""><div class=3D"">Help =
please!</div><div class=3D""><br class=3D""></div><div class=3D"">I feel =
I know the fair market value for my cars - basically the price I=E2=80=99d=
 sell them for.&nbsp; I also have them insured for a greater value due =
to the incremental way insurance is sold.&nbsp;&nbsp; Wife thinks they =
are made of gold.</div><div class=3D""><br class=3D""></div><div =
class=3D"">I=E2=80=99ve owned LBCs for 35 years (not current cars) and =
done all work except paint.&nbsp; I usually struggle through repairs but =
finally manage.&nbsp;<span =
class=3D"Apple-converted-space">&nbsp;</span></div><div class=3D""><br =
class=3D""></div><div class=3D"">I think I know the best way to find the =
valuation is to hire an appraiser, but short of that, does anyone have =
experience or thoughts how to handle LBC valuation in a =
divorce?&nbsp;&nbsp;<span =
class=3D"Apple-converted-space">&nbsp;</span></div><div class=3D""><br =
class=3D""></div><div class=3D"">I have four cars,&nbsp;=E2=80=9872 =
MGB,&nbsp;=E2=80=9868 BGT,&nbsp;=E2=80=9873 TR6,&nbsp;=E2=80=9859 =
Minor.&nbsp; One solution is to pick and choose -&nbsp; I get two and =
wife gets two.&nbsp;<span =
class=3D"Apple-converted-space">&nbsp;</span></div><div class=3D""><br =
class=3D""></div><div class=3D"">TR6 and MGB drivable.&nbsp; BGT &amp; =
Minor not drivable.&nbsp; Paint on Minor original; all others over 10 =
years.&nbsp; Tires on all over 10 years.&nbsp;<span =
class=3D"Apple-converted-space">&nbsp;</span></div><div class=3D""><br =
class=3D""></div><div class=3D"">Thanks for input (even =
humor).</div><div class=3D"">Steve Hughes</div><div =
class=3D"">Gainesville, FL</div><div class=3D""><br class=3D""></div><div =
class=3D""><br class=3D""></div><div class=3D""><br =
class=3D""></div></div><span style=3D"font-family: Helvetica; font-size: =
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text-indent: 0px; text-transform: none; white-space: normal; widows: =
auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; =
display: inline !important;" =
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---

From: Steven Trovato via Mgs <[email-masked]>
Date: Sat, 10 Sep 2016 19:22:13 -0400

Steve,

OK, I have no actual experience with this, and 
limited knowledge, so of course I will throw in 
my two cents anyway!  It seems to me that 
divorces are usually a big negotiation between 
the two sides.  In this case, what matters is 
finding a valuation method that you both can 
accept.  It can be anything from looking them up 
online to hiring a professional appraiser.  Even 
if you do that, it has to be someone you both 
agree to accept.  Then the negotiation will 
involve what to do with the cars, given the 
determined value.  It could be you get two, she 
gets two.  Or you get them all and she gets some 
other stuff of equivalent value.  Or you sell 
them all and split the proceeds.  I would think 
your lawyer would be the one advising you through all of this.

Now, the other way things can go is that you both 
never agree on anything and the whole thing ends 
up in court.  In this case, I would think the 
exact valuation method is more critical, in that 
it has to be accepted by the court.  I would 
guess that a professional appraiser would be 
mandatory in this case.  Again, I would think 
your lawyer would be advising you.

I can't imagine that any of this is particularly 
unusual.  Everybody has "stuff" whether it is 
LBCs or motorcycles or boats or modern 
vehicles.  The more you can both agree to the 
better off you both will be.  The more you fight, 
the richer the lawyers get.  Also, when getting 
advice on the Internet remember that there are 
differences based on what state you live in.

I don't know if any of this helps.  I do wish you 
all the best and hope you can get on with your life without too much pain.

-Steve

At 06:20 AM 9/9/2016, daybell7--- via Mgs wrote:
>Help please!
>
>I feel I know the fair market value for my cars 
>- basically the price I’d sell them for.  I 
>also have them insured for a greater value due 
>to the incremental way insurance is sold.   Wife thinks they are made of gold.
>
>I’ve owned LBCs for 35 years (not current 
>cars) and done all work except paint.  I usually 
>struggle through repairs but finally manage.
>
>I think I know the best way to find the 
>valuation is to hire an appraiser, but short of 
>that, does anyone have experience or thoughts 
>how to handle LBC valuation in a divorce?
>
>I have four cars, ‘72 MGB, ‘68 BGT, ‘73 
>TR6, ‘59 Minor.  One solution is to pick and 
>choose -  I get two and wife gets two.
>
>TR6 and MGB drivable.  BGT & Minor not 
>drivable.  Paint on Minor original; all others 
>over 10 years.  Tires on all over 10 years.

[email-masked]