You and your spouse have an art collection with a value in the millions. You love the art and collected it for its own sake, but you also know that it's a serious investment. As you move toward divorce, you will need to determine what to do with it.
The easiest way to divide physical assets is to split up assets with similar values. For example, maybe you think that the art collection is worth $10 million. You also have a family home that is worth roughly the same amount. To keep from selling the house and the collection, you could agree to take the collection and your spouse could take the home.
It sounds simple enough, but the trouble may be that the two of you cannot agree on the value. If that happens, can the court order you to sell so that you can split up the money?
They can, in some cases. For instance, one couple had a massive collection that one of them claimed was worth $625 million and the other said was worth $788 million. They could not agree with one another even after working with outside experts, so the court told them to sell it all off and just split up the proceeds from the sale.
As you can see, dividing high-value assets can get complicated. You may lose assets that you wanted to keep. It is in your best interests to know as much as possible about your legal options and the steps you can take to find a resolution that works for you, your ex and the court.