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What should you do about your artwork in your divorce? 

On Behalf of | Jul 6, 2023 | Divorce & High Asset Divorce |

When you’ve been married for some time, you’ve built a life together that includes buying things you both benefit from. From big, practical purchases like cars and houses, to those which decorate life such as jewelry and artwork. 

If you’ve accrued a significant amount of artwork during your marriage, or even just one piece that’s of significant monetary or sentimental value, how do you figure out what to do with it when you divorce? 

Connecticut is an equitable distribution state 

What this means is that the court will make a determination as to what is fair when it is involved in dividing a divorcing couple’s property. This doesn’t always mean that items are split 50/50. The court will take into account a number of factors before reaching a decision that it believes is fair to both parties. 

All of your pieces will need to be put into an inventory 

Unfortunately, while these pieces may mean the world to you, they are simply assets to the court. Each one will have a monetary value and the court will decide how to fairly divide them. If there is just one piece you have, the court may order it to be sold and its value to be shared between both parties. If you do not currently know what the pieces are worth or if they are due for an updated valuation, this will also need to be done. An expert can give a good estimate on how much each piece is worth on the open market.

Having legal assistance while you go through the divorce process can make answering questions like this much easier while providing you with the support you need. 

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