Posted on behalf of Jeffrey N. Greenblatt of Joseph, Greenwald & Laake, PA posted in Property Division on Friday, May 9, 2014.
People in Maryland may have heard about a new reality TV show coming to audiences this summer that deals with the not-so-pleasant business of property division between divorcing couples. The show, called “Untying the Knot,” will air on Bravo starting in June, and follows a divorce mediator through her trials and tribulations as she helps couples work to split up their marital property.
Each episode will feature a different couple, and is sure to present some interesting situations. In addition to the mediation process, the show will focus on two expert appraisers who are tasked with attaching a value to the couple’s various property interests, including cars, real estate and other valuable items like art and jewelry. Once the value of these items is determined, the couple can see, at least on paper, whether the apportionment of property between each person is fair.
Every married couple has different personal and emotional dynamics, and every couple has a different financial situation, so the possibilities of what a mediator or attorney might encounter during the divorce and property division settlement are endless. In a simple property division situation, a more agreeable couple may be able to work out their marital property split in short time, but on the other hand a couple with significant and varied assets might spend a significant period of time in property division settlement negotiations and litigation.
Regardless of whether a couple has significant assets or not, they aren’t doing themselves any favors by rushing through property division just to get it over and done with. After all, this is their financial future on the line, and it helps to take a cautious and measured approach to ensure that they get what they deserve when the couple goes their separate ways.
Source: The Wrap “Bravo’s ‘Untying the Knot’ Serves Up Tough Love to Divorcing Couples,”Jethro Nededog, April 29, 2014