There are many reasons to collect artwork. Whether art is your passion, you enjoy collecting interesting pieces or you are planning for the future, you and your spouse may have assembled a notable collection during your marriage. If you are heading for divorce court, though, you likely have to think about what happens to your art during your high-asset divorce.
In New Jersey, judges use an equitable standard when deciding how to distribute marital property. As such, the judge in your matter has jurisdiction to determine how to deal with the artwork that jointly belongs to you and your spouse. Whether you plan to sell the art and split the proceeds or keep it and pay your spouse a fair share of the income, you must know how much your artwork is worth.