It is important to remember that the only way to learn the distribution of property.

Fair value has been described as "the price a seller who is willing but not compelled to sell would accept and a purchaser who is willing but not compelled to buy would pay." As such, fair value can be hypothetical, but it must also be fair and reasonable.

Establishing the fair value of a professional goodwill also complicates the fair value appraisal.

The fair value of a business is not easy to calculate, particularly in the case of private companies, such as spouse at the time the couple married.

In divorce actions, when no definite market value can be established and the evaluation of experts must be relied upon, fair value is the amount a property ought to return if sold to someone who is willing to purchase it under ordinary selling conditions.

See Fair Market Value.

See also Minority Discount.