Married to Monet: Alternatives for complex asset division in the modern age of matrimony

• Published date: 01 July 2022
• Author: Elizabeth Doty
• Date: 01 July 2022
• DOI: http://doi.org/10.1111/fcre.12660

STUDENT NOTES

Married to Monet: Alternatives for complex asset

division in the modern age of matrimony

Elizabeth Doty

1,2

1

Family Court Review, New York, USA

2

Maurice A. Deane School of Law Hofstra

University, Hempstead, NY, USA

Correspondence

Elizabeth Doty, 399 East 72nd Street, 17C,

New York, NY, 10021, USA.

Email: edoty1@pride.hofstra.edu

Abstract

Divorce proceedings can be arduous and emotional actions

when it comes time to divide unique, complex marital property.

The difficulty often lies in parties’inability to compromise on

value and distribution methods which leave the court with no

recourse other than liquidation. However, liquidation rarely

maintains equity between parties due to inconsistent valuation

techniques and procedures. This Note proposes alternative

considerations for drafting prenuptial agreements and arbitra-

tion clauses which will allow parties to address and anticipate

potential conflicts regarding complex assets prior to the matter

arising in court. Thus, parties may be better equipped with the

legal tools necessary to dispel ambiguity in the division process

and, ultimately, attempt to approach equity.

KEYWORDS

arbitration clauses, artwork, division of complex assets, divorce,

equitable distribution, marital property, prenuptial agreements,

uniform marriage and divorce act, uniform prenuptial agreement

act, valuation date

Key points for the family court community

•The average cost of divorce in the United States is esti-

mated to be $15,000.00 per divorcee.

•According to the United States Census Bureau, marriage

rates have dropped by 1.3% and divorce rates have

dropped 2.8% since 2008.

•Less than 5% of marriages have prenuptial agreements in

place and 15% of divorcees regret not having one.

DOI: 10.1111/fcre.12660

© 2022 Association of Family and Conciliation Courts.

Family Court Rev. 2022;60:575–589. wileyonlinelibrary.com/journal/fcre 575