Division of art could be complicated in New Jersey divorce | Lane & Lane, LLC
Lane & Lane, LLC Lane & Lane, LLC
The Experience To Find Your Solution
Call Today: 908-448-2865
Toll-free: 888-533-9154

Division of art could be complicated in New Jersey divorce

Divorce can be extremely difficult for those involved, as massive changes are made to couples' current lives. For many individuals, these changes include the division of their property and other assets. This can be a stressful process for many, but if artwork is involved, the amount of stress and tension can be magnified. Although many New Jersey residents do not have many works of art that need to be divided in their divorce, the division of these assets can be difficult for those who do.

For some, art has a sentimental value that may mean a significant amount more than the actual price of the painting. This often makes it more difficult to decide who receives a piece of artwork in a divorce than it is to decide who gets a car, house or even other assets. However, there are a few actions that individuals could take before their divorce begins to help with the division of their art.

The first thing that individuals may want to do is take an inventory of all of their artwork. After this is completed, people may want to hire an appraiser to find the estimated value of their art. The individuals could hire one appraiser or they could each hire their own.

Hopefully, any New Jersey residents who are going through a divorce will not have any disputes over the division of assets, including artwork. However, if these conflicts do arise, the actions listed above could help in the resolution of these issues. This could help those involved to heal their emotional wounds and move on to their new lives.

Source: The Wall Street Journal, "Tips for Dividing Art in a Divorce or Death", Daniel Grant, Sept. 21, 2014

No Comments

Leave a comment
Comment Information