In an article called “Man suing ex-wife over secret shoe stash” Martin Zavan reports that a wife’s 1,200 shoe collection may now be included as part of the property pool in family law matter.
The article published on 26 June 2012 by ninemsn states the wife Beth Shak starred in a documentary called “God save my shoes” where she displayed her prize collection. In the documentary the shoes could only be accessed by entering into a room with a special code.
Beth Shak was married to hedge fund manager Daniel Shak who claims he was unaware his partner had such an extensive collection of shoes. Mr Shak estimates the shoe collection is worth approximately $1 million. Ms Shak has dismissed Mr Shak’s claim stating it is impossible he did not know about her footwear collection while they were married.
Generally in Family law Court proceedings, items such as clothing and furniture are given minimal value when assessing what should be included in a separated couple’s property pool. However in an exceptional case such as this it may be possible that a shoe collection of this size would have some a significant value that should be accounted for in the asset pool.
Frequently parties will argue about what value should be ascribed to certain items. The most common disagreement may be over the value of an item of real property. In such cases the parties may appoint a joint valuer who will provide a valuation. Valuations can also be obtained for more unusual items such as boats, antiques, artworks or theoretically a designer shoe collection.
In addition to tangible items, there is also frequently disagreement between parties about if trusts should or should not be included in the asset pool as matrimonial property.
If you are separating from your partner and would like advice regarding what can be included or excluded from the matrimonial property pool or how property is likely to be divided more generally please contact us at Armstrong Legal on 9261 4555.