How to Value Assets for Divorce in Maine

Every asset listed on your Maine divorce Financial Statement (Form FM-043) needs a dollar value. The standard is fair market value — what a willing buyer would pay a willing seller, with both having reasonable knowledge of the relevant facts. Not what you paid for it. Not what it would cost to replace.

Getting valuations wrong means the equitable distribution under 19-A M.R.S. § 953 starts from inaccurate numbers, and any split based on bad math disadvantages one spouse.

Real Estate

The family home typically requires a formal appraisal by a licensed real estate appraiser. Zillow and Redfin estimates are not accepted by Maine courts as evidence of value — they are algorithm-generated and do not account for the property's actual condition, recent renovations, or local market factors.

A professional appraisal costs $300 to $600 and produces a defensible report. If both spouses agree on the value, one appraisal is sufficient. If they disagree, each side may hire their own appraiser, and the court decides which valuation (or a middle point) to adopt.

For properties with unique characteristics — lakefront homes, working farms, commercial mixed-use buildings — expect to pay more for a specialized appraisal.

Vehicles

Use Kelley Blue Book (kbb.com), NADA Guides (nadaguides.com), or Edmunds for vehicle valuations. Select the "private party value" — not dealer retail or trade-in, as those reflect the dealer's margin.

Be honest about condition. A vehicle with 140,000 miles, a dented fender, and worn tires is not in "good" condition. Select the mileage, trim level, and condition that actually match the vehicle, and save a printout or screenshot with the date for your records.

For boats, motorcycles, ATVs, and recreational vehicles — common in Maine — NADA Guides also covers marine and powersport valuations.

Household Goods and Personal Property

Furniture, electronics, appliances, clothing, and household items are valued at what they would sell for today — typically their garage sale or secondhand market value, not what you originally paid.

A couch you bought for $2,000 three years ago might be worth $200 at resale. A set of dishes from a department store is worth whatever someone would pay at a yard sale. Courts do not expect itemized appraisals of every fork and towel — reasonable estimates are acceptable for ordinary household goods.

For valuable collections (art, antiques, firearms, coins, jewelry), a professional appraisal is appropriate and may be required if the value is contested.

Retirement Accounts and Pensions

Defined contribution plans (401k, 403b, IRA, Roth IRA) are straightforward — the account statement shows the current balance. Use the statement closest to the separation date or the date the court specifies for valuation.

Defined benefit pensions (MainePERS, military pensions, private-sector pensions) are harder because there is no "account balance." The marital portion is typically calculated using the coverture fraction: months of creditable service during the marriage divided by total months of service. The actual dollar value depends on the benefit formula, the member's salary at retirement, and actuarial assumptions about life expectancy. A pension valuation actuary may be needed for contested cases.

Life Insurance

Term life insurance generally has no cash value. Whole life, universal life, and variable life policies accumulate cash surrender value — this is the figure that goes on FM-043. Call the insurance company or check your most recent annual statement for the current cash surrender value.

Stock Options and Restricted Stock

If either spouse holds unvested stock options or restricted stock units from an employer, these need to be valued and classified. Options granted during the marriage are marital property to the extent the value accrued during the marriage. Valuation usually requires the Black-Scholes model or a similar approach, which your employer's stock plan administrator or a financial expert can provide.

The Valuation Date

Maine courts typically use one of two dates for valuation: the date of separation or the date of trial. The choice matters when asset values are volatile — a retirement account that was worth $200,000 at separation might be worth $180,000 or $220,000 by trial. If you and your spouse disagree on the valuation date, the court decides.

Document every value as of a specific date, and keep the source (appraisal report, account statement, KBB printout) in your file. The Maine Divorce Financial Split Guide includes an asset inventory worksheet organized by category with columns for fair market value, classification (marital vs. separate), and supporting documentation — designed for Form FM-043 preparation.

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