For this assignment, we will be preparing a joint property inventory for the Bra

For this assignment, we will be preparing a joint property inventory for the Brady case. Attached is the list of property to be divided. Both parties have agreed to the identity of each item of property. There are a few blank spaces (highlighted in yellow) where you will need to find the fair market value. For the cars and recreational vehicles, you should be able to find values at kbb.com Links to an external site.or Edmunds Links to an external site.. If you can\’t find a value at these sites, just Google the vehicle information–you should be able to get a good idea of what the fair market value is for that item. For the furnishings and household good, assume what you would pay for those items (in good to excellent condition) at a garage sale and use that number as your value.
Once you have your values, you will need to input the property information and value into the attached spreadsheet. [Thank you to Magistrate Judge Aly Rasley (ret.) for creating and sharing the spreadsheet.] BEFORE entering any data on the spreadsheet, please review the instructions for the spreadsheet [see Instruction tab on bottom of sheet]. We will ONLY be entering data on the attorney tab. Data will automatically populate the judge\’s sheet. Please don\’t worry about completing information for rows 1-6.
While we are representing Mike Brady, this is a joint inventory. The only items Mike really wants to keep is the Barracuda, one set of bedroom furnishings and minimal household goods, one computer and desk, one snowmachine, one kayak, the firearms, some tools, and his share of the engineering business. He is willing to give up the house and will take the cabin.
Things to consider: How should the debts be divided? How should the 401k and IRA account be divided? Are the life insurance proceeds separate or marital?
What am I looking for? How you propose to distribute the property equitably, if you can distinguish separate and marital property, how to research vehicle values. Remember this is just an inventory at this point and there really is no right or wrong answers. I want you to get the experience of working with property inventories and juggling numbers to achieve an equitable distribution.