Don’t forget your artwork when dividing property in a divorce
One of the biggest bones of contention in any divorce can be how to divide your property. Colorado law uses the concept of equitable division for marital property. If you can reach an agreement with your spouse about who keeps what, so much the better. Failing that, if you need to go to court, a judge will split things in a way they consider fair.
When you are beginning the divorce process, create a list of the property you own and place a value on each item. Property means more than just houses or land. When talking about divorce, it means almost everything you own. While you do not need to list every single pot or pan you have, be sure not to overlook potentially valuable items.
It is easy to forget about works of art, yet a piece of art could be worth more than your house. That old painting you found on a market stall forty years ago may be an unknown work from one of the great masters, so get an up to date valuation from an expert.
As with any assets, you need to work out whether they are marital property or separate property. If you owned it before you were married, inherited it, or it was gifted to you alone, it is considered separate property. If not, and if you did not mention it in a prenuptial agreement, it will likely be considered marital property to be split.
You do not need to run a box cutter down the center of your Picasso. You need to add it to the joint pot of marital property to be shared equitably. Seek legal help to understand more about how to distribute your property in a Colorado divorce.