There are many different things that can impact what sorts of property division issues arise in a divorce. One such thing are the occupations of the divorcing spouses. Certain occupations can give rise to their own unique set of property division issues.
Take, for example, artists. When an artist gets divorced, many property division issues can arise in relation to the artwork they created, including:
- What will happen with the pieces of their artwork that they have? – Pieces of their own artwork that an artist has generally can be subject to division in a divorce if they were created during the marriage.
- What is the artwork they have worth? – When an asset is subject to division in a divorce, one thing that can be very impactful in the division is what the asset’s value is determined to be. There are things that can sometimes make pinning down the exact value of a piece of artwork difficult.
- What will happen in regards to licensing and copyright revenues? – Sometimes, copyright or licensing revenues will come out of an artwork an artist created. Generally, if the licensing arrangement or copyright the revenues derive from came into being during the marriage, the future revenues can be subject to division.
- What will happen with the debts they acquired during the creation of their artwork? – There are many different sorts of expenses that can come in relation to the creation of art, and this can sometimes result in an artist building up quite a bit in the way of bills. Debts, like assets, can sometimes be subject to division in a divorce. One of the things that impacts whether an artwork-related debt is a marital debt subject to division is whether the debt was incurred during the marriage.
The fact that occupation can influence what sorts of property division issues show up in a divorce underscores how big of role individual circumstances play in a divorce. Divorce attorneys can provide individuals who are in a divorce with divorce guidance tailored to their particular circumstances.
Source: The Huffington Post, “For Artists, Divorce Means Splitting Up the (Art) Assets,” Daniel Grant, March 3, 2015