Last week we talked about some of the issues that come up when a divorcing couple needs to divide assets held in the form of artwork. This week we learned about a very affluent couple who is encountering this very issue in their divorce after nearly 60 years of marriage. What happened when they had to divide assets amounting to over half a billion dollars?
Bidding adieu to artwork can be one of the most devastating aspects of divorce for some couples. Some pieces you might have collected on your travels, while others you might have received as a gift for one of your anniversaries. These pieces are likely special to both you and your spouse, which can create an issue in the event of a divorce.
Divorcing couples often realize they do not want to put themselves and their children through a potentially knock-down, drag-out divorce litigation. Sometimes, couples decide this immediately, other times it happens after the divorce process has been underway for a while. Also, in divorce litigation, many private and personal details are placed in the official court records, with the danger that the details may become public knowledge. These are serious concerns, and one solution could be divorce mediation.