Many Arizonans are well aware of the difficulties that can arise in divorce. Though many couples find themselves battling over child custody and child support, almost every couple faces disputes over property division. During this process, some might be attached to a particular piece of property, whether for financial or sentimental reasons, and may be unwilling to let go. In these instances, the dispute can become emotional, and strong legal advocacy is needed.
One type of property that is often in heated dispute is art. Because of its unique nature, a piece of artwork can be extremely valuable and meaningful to its owner. Thus, when present in a divorce, it is often a source of contention. However, there are certain steps individuals can follow to help ensure art is protected in case of divorce.
First, it is important that art owners keep an inventory of their collection. When a piece was obtained may be crucial to its inclusion or exclusion from property division discussions. Also, if an individual attempts to hide art during the divorce process, he or she may wind up losing it.
Second, art owners should have their works appraised. Obtaining an accurate estimate of art’s value can be critical to property division negotiations. However, divorcing individuals should realize that they may bring in their own appraiser to ensure the work’s value is fairly and accurately assessed.
Divorce is rarely easy. It can be complicated by many matters, including property division. Though this post discussed art, it could easily apply to any other piece of property that is a source of contention. When an individual becomes concerned about the fairness of property division, he or she should consider speaking with a local Tucson family law attorney.
Source: The Wall Street Journal, “Tips for Dividing Art in Divorce or Death,” Daniel Grant, Sept. 21, 2014