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Couple argues over selling art collection in high asset divorce

On Behalf of | Feb 7, 2019 | High Asset Divorce |

Half a century is a long time to be married, and many in Pennsylvania would speculate that a marriage that lasts that long is strong. One couple in another state is proving that marriages are not always what they seem to be. Because of their significant wealth and disagreement on the value of shared assets, processing their high asset divorce has been a difficult process.

The couple in question had been married for 58 years, and they began their divorce process in 2016. A recent hearing for the couple revolved around their art collection valued at approximately $700 million. The collection includes artists such as Andy Warhol and Alberto Giacometti. Reportedly, the couple desires to liquidate their art collection and intend to split the proceeds. The process of selling the collection has been difficult because the couple has not agreed on its value and an individual to help them sell the collection.

Lawyers reported to a judge in a recent hearing that they would like another judge to help handle the art liquidation. The judge disagreed and gave the couple another deadline to nominate an individual familiar with valuable art. Reportedly, the couple also desires to sell one of their homes, but the sale has been stalled due to a similar disagreement on the value of the home.

Pennsylvania attorneys understand that high asset divorces can be complicated and a painful process. Attorneys are experienced with helping individuals negotiate the division of assets and can advise clients on how to make the process smoother and quicker if desired. Individuals who believe a divorce may be in their near future can begin by consulting with an attorney to understand the process.


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