Law.com Subscribers SAVE 30%

Call 855-808-4530 or email [email protected] to receive your discount on a new subscription.

Art As an Asset in Divorce

BY Beverly Schreiber Jacoby
August 31, 2005

Death, divorce and debt” are the bread and butter of the art and antiques market, as every art world professional knows. Through good times and bad, these life cycle events frequently trigger sales and other transactions. With divorce, however, if emotions are not already present prior to filing papers, the process itself tends to intensify anger and mistrust between opposing sides.

Divorcing spouses often have competing interests, and neither party may be in a frame of mind to compromise. If divorcing New Yorkers, for instance, are forced to choose between the Fifth Avenue apartment and the house in the Hamptons, not to mention the box at the U.S. Open or courtside seats at the Knicks, and if told they must share the Microsoft stock and the 401(k), by the time they get around to dealing with art and antiques, they may not find themselves in the mood to be practical. If the parties behave as if there needs to be a winner and a loser, there is a great risk that instead of preserving the full value of their collections, they may erode the worth of the marital estate. Like the baby in the Judgment of Solomon, the painting cannot be cut in half. Spouses may have a special attachment to certain pieces, especially when collecting is a shared activity within the marriage.

A 'Collecting Unit'

This premium content is locked for Entertainment Law & Finance subscribers only

  • Stay current on the latest information, rulings, regulations, and trends
  • Includes practical, must-have information on copyrights, royalties, AI, and more
  • Tap into expert guidance from top entertainment lawyers and experts

For enterprise-wide or corporate acess, please contact Customer Service at [email protected] or 877-256-2473

Read These Next
Yachts, Jets, Horses & Hooch: Specialized Commercial Leasing Models Image

Defining commercial real estate asset class is essentially a property explaining how it identifies — not necessarily what its original intention was or what others think it ought to be. This article discusses, from a general issue-spot and contextual analysis perspective, how lawyers ought to think about specialized leasing formats and the regulatory backdrops that may inform what the documentation needs to contain for compliance purposes.

Hyperlinked Documents: The Latest e-Discovery Challenge Image

As courts and discovery experts debate whether hyperlinked content should be treated the same as traditional attachments, legal practitioners are grappling with the technical and legal complexities of collecting, analyzing and reviewing these documents in real-world cases.

Identifying Your Practice's Differentiator Image

How to Convey Your Merits In a Way That Earns Trust, Clients and Distinctions Just as no two individuals have the exact same face, no two lawyers practice in their respective fields or serve clients in the exact same way. Think of this as a "Unique Value Proposition." Internal consideration about what you uniquely bring to your clients, colleagues, firm and industry can provide untold benefits for your law practice.

Risks and Ad Fraud Protection In Digital Advertising Image

The ever-evolving digital marketing landscape, coupled with the industry-wide adoption of programmatic advertising, poses a significant threat to the effectiveness and integrity of digital advertising campaigns. This article explores various risks to digital advertising from pixel stuffing and ad stacking to domain spoofing and bots. It will also explore what should be done to ensure ad fraud protection and improve effectiveness.

Turning Business Development Plans Into Reality Image

This article offers practical insights and best practices to navigate the path from roadmap to rainmaking, ensuring your business development efforts are not just sporadic bursts of activity, but an integrated part of your daily success.