Diaz Case Law
Free Consultations

Are property division issues becoming more complex in divorce?

According to a U.S. census report, Americans are waiting longer to get married. Whereas 80 percent of Americans in the 1970s were married by the time they reached their 30s, that same percentage is now obtained at the age of 45. 

Couple may wish to have financial stability, success in their careers, or other measures of stability before tying the knot. By waiting, it is also more likely that couples will separately own more assets. Yet in the event of divorce, that may raise more complex property division questions.

A recent article examined several high-profile divorces where the property division discussions ground to a halt over valuable art. In any divorce, the parties must inventory the assets and debts of the marital estate. That process includes assigning valuations to every asset. Yet assigning a fair market value to artwork may be more subjective, especially when neither party wants to sell it. Even with experts, it may be uncertain what a valuable painting might fetch on the market.

Consider the Value of Prenuptial Agreements

Prenuptial agreements are a proactive approach to your marital finances. Our Chicago law firm has observed a change in societal attitudes about these contracts, entered into before marriage. Given that many couples are marrying older, it often makes sense for each party to maintain their financial independence.

Rather than indicating a lack of confidence in a marriage, a prenuptial agreement can be an effective tool for opening financial discussions. Specifically, a couple is encouraged to think about how they want to define their jointly owned property, approach joint marital debts, and preserve any separate holdings they might be bringing into the marriage. For both unmarried and divorcing couples, we have the experience to find practical financial solutions to questions about marital assets, debt, and legal obligations. 

Source: “In a High Profile Divorce, Who Gets the Art?” Julie Belcove, Jan. 18, 2018

No Comments

Leave a comment
Comment Information
Email Us For a Response

Schedule A Consultation With An Attorney

We Will Be Close To You. Tell Us What You Need And Experience What We Can Offer You.

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy

7100 16th Street
Berwyn, IL 60402

Toll Free: 866-298-0051
Fax: 773-579-0147
Berwyn Law Office Map

Review Us