Main Navigation

Law Offices of Lisa A. Ruggieri
781-489-3759 Weekend & Evening Appointments Available

Not every couple has a Picasso hanging in the hallway, but …

For discussion purposes, the end of the partially composed sentence in today's above blog headline is … "some do."

And for such couples (whether situated in Massachusetts or elsewhere), that painting will definitely be spotlighted in the event of a looming divorce.

We all know why that's true of course, notwithstanding the comment of a family law insider in a recent article on divorces featuring high-value art collections that such holdings are legally "no different from pots and pans."

Would you rather own state-of-the-art kitchenware or a Van Gogh original?

The point regarding "stuff" in a marriage is that most things are indeed similar in the sense that they can be counted up, valued and fairly divided in a divorce outcome. The obvious caveat (make that a huge bullet point, if you like) with high-end art is its often astronomical -- and seemingly ever-growing -- value.

Many divorcing couples are going to willingly square off to ensure that they get an equitable piece of the proceeds when attention turns to art. As one commentator notes, it can be "even more valuable than the home in which it's hanging."

Given the sheer value ascribed to select art holdings, it stands to reason that close scrutiny will attach to their proper designation as separate or marital property, respectively. A number of factors can be relevant in that evaluation. When was the art purchased? What was the source of funds used to buy it? How has it subsequently been used or displayed?

A family law attorney with demonstrated experience representing high-asset divorce clients can help ensure that valuable art and all other significant assets are fully identified, accurately valued and fairly apportioned in a marital dissolution.

No Comments

Leave a comment
Comment Information

Privacy Policy | Business Development Solutions by FindLaw, part of Thomson Reuters.