For art lovers, an art collection is much more than an assemblage of art. It is an emotional connection, a source of pride and joy, and a representation of their investment in the world of art. Fine art may also be one of the most valuable assets a person owns. If you or your spouse have an expensive art collection and you plan to divorce, it is important that you understand how the artwork will be handled during the property division phase of the divorce process.

Classification and Ownership of Fine Art in a Divorce

Fine art may be classified as marital property or non-marital property in a divorce. If a spouse owned a piece of art before getting married, the artwork is typically non-marital property. Art may also be classified as non-marital property if it is excluded from the marital estate through a prenuptial agreement. If a spouse purchased or received a piece of art during the marriage, it may be classified as marital property in an Illinois divorce. If artwork is a marital asset, both spouses have an ownership interest in it, and the spouses will need to divide the value of the asset between themselves during the divorce.

An Accurate Appraisal is Crucial

Before any artwork can be divided between the spouses, it is important that the art is properly valued. Art appraisals should be performed by a professional and should consider factors like size, age, condition, artist’s reputation, and overall market demand. Any appraisal used in an Illinois divorce should reflect the current fair market value of the art.

Divorce cases vary significantly in complexity. When spouses own few assets and are willing to cooperate with each other and comply with the divorce process, the marriage can be dissolved with relative ease. However, high-asset divorce cases and high-conflict divorce cases are rarely this straightforward.

Divorce lawyers have many different legal tools at their disposal during a divorce case. One such tool is a subpoena. Subpoenas are court orders requiring individuals to appear in court and provide testimony or documents related to the case. In a divorce setting, they can be used to compel a spouse to turn over financial records, produce emails and text messages, or give statements about their marital assets.

When and How Are Subpoenas Used in a Divorce?

Subpoenas can be used in cases when a spouse is uncooperative or refuses to divulge truthful, complete information. For example, a spouse who refuses to provide financial documentation showing his or her income may be served with a subpoena. Subpoenas may be served to individuals or businesses, such as banks or cell phone companies.

Most people have bank accounts in the country in which they primarily reside. However, it is not uncommon for high-income individuals to have “offshore accounts” in the Cayman Islands, Switzerland, Belize, or other countries. Although we often hear the term “offshore account” in conjunction with illegal activity in news stories, having bank accounts in other countries is perfectly legal. However, overseas accounts are sometimes used to hide assets during a divorce case.

Overseas Bank Accounts in Your Illinois Divorce Case

An offshore bank account may be used to reduce an individual's tax burden or make international business transactions easier. However, offshore accounts are also sometimes used to hide money from the Internal Revenue Service (IRS). Similarly, some divorcing spouses hide money in an offshore account to avoid dividing the funds during a divorce.

Financial Disclosure During Divorce  

One of the key elements in any divorce case is the disclosure of assets and debts, but financial disclosure is even more important in a high-asset divorce. Spouses are expected to provide a full accounting of what they own, what they owe, and what they earn in income. However, some spouses fail to disclose money in offshore accounts to sway property division in their favor or reduce their support obligations.

Despite the sense that everyone today lives primarily on their phones and shares every detail of their lives through social media, many people still prefer to take a quiet, less public approach. Furthermore, certain people - such as local and national political representatives, celebrities, and leaders in major companies - have a vested interest in maintaining privacy as much as possible.

Divorce can pose a challenge to those who prefer to maintain privacy, especially if the divorce is acrimonious or the couple’s relationship has been subject to public scrutiny. However, there are ways to protect the privacy of individuals getting divorced, as well as the privacy of their children. Read on and then contact an Illinois high profile divorce attorney for help.

Strategies for Keeping Divorce Private

One of the best strategies for people going through a divorce and hoping to keep it private is to stay off social media. Even if you think you have your profile on the most restrictive settings, it is easy for someone to see and share information that you thought would stay among family and close friends. Instead, experts suggest that divorcing spouses refrain from sharing anything on social media at all, including seemingly harmless photos of themselves out on vacation, shopping, or at dinner. If the divorce gets hostile enough, just about anything can be used as an evidentiary weapon.

Before filing for divorce in Illinois, many people suspect for years that something might be “off” without having hard evidence to prove it. Maybe you find yourself wondering if your spouse is cheating on you; maybe your shared bank account seems to be missing money and your spouse is defensive about where it is going. Whatever the reason, if your spouse is hiding something from you that could be serious enough to make you consider a permanent solution like divorce, you will want to be sure. Read on to find out how a private investigator may be able to help you get the information you need to make an informed decision.

What Can a Private Investigator Do?

Private investigators are individuals who specialize in finding information, but they are not typically police officers or detectives (and when they are, they are not working in their capacity as a law enforcement officer when sidelining as a PI), and they cannot break the law. This often leads to the question - what exactly can a PI do?

Private investigators often work with organizations to do background checks, which can yield valuable information. They can interview people like friends and family, verify the information you provide to them, and conduct surveillance on public property. They can also do credit checks and spend time looking through years of documents, such as cell phone logs and credit card statements, that have been provided to them legally.