You have a great collection of artworks that you've been putting together for many years. Now, you're divorcing, and your spouse suddenly wants some of that collection, too.
You don't think any of the art is particularly valuable, but you purchased it because you liked it so well. Now, your spouse, who may not even like the work, just wants their fair share despite your feelings toward the collection.
How can you protect your art collection?
One thing to do is to remember when you bought it. Anything you bought before your marriage or while separated will not be considered community property. Another thing to look for is the receipt of sale for any of the works. If you can find those, you'll have a value for the piece based on the date when you purchased it.
A good thing to remember is if you purchased the art with separate funds or if you purchased it with community funds. If art was gifted to you, you will likely retain it as separate property as well.
Remember, the art itself just needs to be valued to find out how much it's worth. Then, it's the value of those works that is divisible by 50 percent during the divorce. You don't necessarily have to give up half of the collection specifically.
Your attorney can help you negotiate to keep the collection together and find out its true value, so you can know what to expect if you take this case to court. Knowing the exact dollar amount is key in protecting your prized possessions.