Appraising Art in a Divorce
The key is to Anticipate!
Even in amicable divorces, parting ways can be stressful.
When it comes to shared finances like checking or savings accounts, these can often be closed and the funds divided without much complication. Assets such as vehicles or a home can be sold and the proceeds split evenly.
However, when it comes to art, whether it's a single piece or a substantial collection, seeking the expertise of an appraiser is crucial. Art is a unique asset that differs greatly from a bank account or a house.
An art appraiser can help achieve three key objectives:
Minimize the stress and emotional strain on the divorcing couple.
Ensure that the spouses desires regarding the art (whether to keep, offset or sell) are respected.
If selling is the chosen route, the appraiser can provide guidance
To learn more, listen to my interview in the podcast created by Kristel Caniquitte Loan Officer.