AIRCRAFT AS DIVORCE ASSETS --

ADVICE ON WHAT YOU SHOULD KNOW

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Most people already aware that around 50 percent of marriages in the United States end in divorce and in many instances, aircraft are part of it.

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When you break that down by number of marriages:

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• 41 percent of first marriages end in divorce.

• 60 percent of second marriages end in divorce.

• 73 percent of third marriages end in divorce.

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AERONUVO is frequently contacted by persons contemplating or in the actual process of divorce when the value of an aircraft must be known.  We also act as court appointed aircraft appraisers.  Your confidentiality is protected and assured when we represent you as an aircraft appraisal service.  We take your concerns, questions and special requests seriously.

 
In these instances one or more aircraft as a marital property asset requires a certified and fair market value aircraft appraisal.  Sometimes this is dictated by the court or under advisement of an attorney in the course of divorce settlement.  It is highly recommended that an on site evaluation of the aircraft take place to gain an accurate and reliable report of the condition of the aircraft.  This prevents hearsay and unsubstantiated opinions on the value of aircraft in divorce proceedings.

Protecting Marital Assets such as Aircraft in a Divorce

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What is "Marital Property"?  

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Generally, it's anything that you acquired during the marriage which can include one or more airplanes.  In order for the court to make an equitable division of the marital property, it must first know what constitutes the marital estate with regards to one or more aircraft.  In many states both parties are required to file Verified Disclosure Statements on assets. 

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Dividing Marital Aircraft Property by Agreement

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Divorce Mediation:  This is usually the first choice.  85% of all disputed divorce cases are settled in mediation.  Simply stated, the parties and their attorneys choose an experienced Family Law attorney or retired Judge to help them reach an agreement on disputed issues.  We can provide an objective and confidential divorce valuation of aircraft.

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Collaboration:  This is a fairly new approach to Family Divorce Law.  Attorneys practicing Collaborative Law have to complete unique legal training.  The parties and their attorneys agree in writing that they are NOT going to go to the Court with motions, hearings and trials.  They make a commitment to work out a solution amongst themselves.  If either of the parties decides to break the agreement by filing motions with the Court, then both parties have to discharge their lawyers and start all over again (usually at significant expense) with new attorneys.  This is usually enough incentive for the parties to stick to the collaborative divorce law process.

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Divorce Arbitration:  Arbitration is not used every day in divorce cases but it is appropriate in certain instances.  In essence, the parties and their counsel agree on an Arbitrator who will hear the parties' positions and he/she will make a recommendation to the Court as to how to resolve the issue.  Generally, the Court will accept the Arbitrator's recommendation and make it an official order of the Court.

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Divorce Litigation:  Filing motions, holding hearings, bringing in witnesses and holding a full-day or multi-day trial are always going to be your most labor-intensive and expensive option.  Further, you give up most input you might have to come up with a creative solution that is in the best interests of everyone involved.

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This website is not intended to offer legal advice or to replace the advice of your attorney.  Its purpose is to supplement legal advice from qualified counsel and to aid attorney-client communication for aircraft valuation and appraisals.