Couples who collect artwork and are going through a divorce may struggle with determining who keeps what and how much all the artwork is worth. The process for dividing up normal personal items is usually simple, as they are typically associated with only one spouse. However, artwork collections can include paintings, sculptures, and more precious acquisitions that both spouses may be attached to and with which they are not willing to part. Having a skilled Charles County divorce attorney on your side is important in situations like these. Your attorney can help work through negotiations or hire experts if necessary.

Deciding Who Gets the Artwork

There is no absolute answer on who gets any assets in a divorce, let alone artwork. There are multiple factors that the court will look at if you and your spouse cannot reach an agreement on your own. Some of the things the court will consider include:

• When was the artwork acquired? Was it purchased by both spouses during the time you were married?
• Is any of the artwork inherited or purchased by only one spouse during the marriage?
• Was any artwork purchased by one spouse prior to the marriage?
• Did one spouse give the other spouse a piece of artwork as a gift?

These are just a few of the factors the court will look at when trying to decide how to divide the artwork. It is not a comprehensive list, but it does give you some type of idea of what family court judges consider.

Determining the Value of Artwork

Determining the value of your artwork is another hurdle you have to overcome. Unlike assets like real estate or vehicles, which have set book values, determining the value of artwork can be more challenging. In most cases, your attorney will need to hire experts who will provide a determination on valuation. What can make artwork so challenging is that it is not just the present-day value considered by experts. They also try to determine the future value, as the artwork might appreciate in value and generate future income, as well.

Artwork value is subjective, but there are some objective elements that can help determine the final figure. One of these is the amount of money a gallery, dealer, collector, or art curator would be willing to pay for it. This potential figure can have some impact on your overall asset distribution in your divorce, especially if one spouse claims the artwork is not valued that high in order to keep from paying the other spouse more money for his or her share.

Choosing the Right Maryland Family Law Attorney

When choosing an attorney to represent you, you want someone who has experience handling divorce matters with high-value and complex assets. You want someone who has access to the right experts in various fields to provide a valuation of your artwork to ensure you are getting your fair share of the marital assets. At the Law Office of Robert R. Castro, we have experience handling a wide variety of family law matters, including those involving complex assets like artwork. Contact our office today at 301-870-1200 to schedule an initial consultation.