Divvying up sentimental items is often what causes the most heated arguments during divorce. Often items in a married couple's possession have priceless value to them, although to a neutral party the value would be negligible. When it comes to art during asset division, it can have both a sentimental value and a very high financial value, especially if one or both spouses are serious about art collecting.
Dividing assets such as art can be one of the most stressful parts of divorce. But it can be a much more straightforward transaction if both spouses educate themselves about the law when it comes to the dividing assets.
Make a list of possessions
The first step toward a relatively stress-free divorce is to make an inventory of everything. This includes all of the artwork that need to be divided.
Learn how the law works
Under the law in the state of Florida, any asset that was acquired before the marriage took place will remain in the possession of the original owner. Therefore, the only art assets that are eligible for division are those assets that were acquired by the couple during their marriage.
It is important to know exactly what your rights are toward all marital art assets before you sign anything in relation to your divorce. Doing adequate research can ensure that you get the best outcome.
Ask for recommendations
In order to get the most accurate value for all of the art that you and your soon-to-be ex-spouse own together, you will need to retain a qualified appraiser. Your family law attorney is one good source of referrals for professional appraisers.
Source: The Wall Street Journal, "Tips for Dividing Art in a Divorce or Death," Daniel Grant, accessed Nov. 09, 2017