One of the most difficult aspects of a divorce in Colorado is dividing up your property. When it comes time to decide who gets what, things can get complicated. This is especially true if you are an artist and have to decide what to do with your creations. We at Fabio and Merrill have experience helping clients determine what to do with marital property and can help you find the best home for your artwork as well as any other possessions.
The Huffington Post discusses the unique value that art has in a divorce. While many things can be given an exact monetary price, pieces that you created yourself may be less straightforward. You may have unfinished work that you spent hours designing and building, yet cannot assign a value since it is incomplete. You may also have put a large amount of money into a piece that has little monetary claim, but tremendous sentimental value.
The first thing you should do is make a list of all of your pieces, when they were completed and what their ownership status is. If you have sold any work, you will need to list the price. You may need to split the profits from any pieces you made during the marriage, even if they sell several years later. An appraisal could also help alleviate concerns.
Another factor may be copyrights and royalties. If you are receiving payments on any previously sold pieces, you will need to include that amount in your joint property. For more information on dividing your property during divorce, please visit our web page.