Artwork is just like any other asset during a divorce. It has to be divided. It's a marital asset. Some have compared it to simple things like pots and pans. Is there really any difference between a painting that a couple bought and a new couch or a shoe collection?
Think it's hard to split up your assets when you get divorced? Try splitting up a business.
When couples divorce, as you imagine, splitting up assets can get quite contentious, especially if the assests that are being fought over are expensive, sentimental or rare. In the case of a wedding or engagement ring, it can easily be described as all of the above. With that in mind, you're probably wondering how it's handled then when property is divided up.
Many different decisions must be made when you are going through a divorce. One of these is what you are going to do with the marital home.
When a loved one leaves a person something in an estate, the chances are good that he or she meant for that individual to have the assets. If the person is married or gets married and that ends in divorce, the discussion about what will happen to the inheritance might come up.
When you're getting a divorce, some things seem easier to figure out than others. Property division, even when you don't think you have much to divide, can end up being more complicated than you realize.
If you're about to be divorced in Florida and you have significant assets or land holdings, one term you need to be familiar with is "donative intent."
Military life is hard on families, and some families don't make it. When a military member goes through a divorce, there are some specific points that must be considered that aren't a part of civilian divorce.
Let's say you're a military service member on active duty and you were recently served your divorce papers. Does the Soldiers and Sailors Relief Act allow you to disregard your divorce?
If you are going through a divorce, one of your biggest logistical concerns will probably be the division of your property. Since couples tend to accumulate assets over the course of their relationship, the process of dividing those assets is often a complicated one. Each state has its own rules and regulations concerning property division and Florida is no exception. However, before you can reasonably consider how property will be divided, you must first understand the different types of property.