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Microstock Photography Forum - General => General Stock Discussion => Topic started by: oxman on November 07, 2012, 00:33
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Does anyone have any experience dealing with a property settlement from a divorce which involves a stock photo portfolio?
I was wondering how one would divide up an asset like a portfolio generating an income stream if there was a divorce.
Anyone been down that road? :P
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I don't, but you probably want to say if you're in the US and which state, or which country if not the US, as the laws on this vary by place
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It is an asset and a value can be agreed on. It compares to a family business.
When the value is agreed on it becomes a part of the estate, like the car and paintings, and shared between the divorcees.
Putting a value to the port is not easy, so the only way is to negotiate it, and if you fail to agree, you may want to have a specialist put a value to it. A specialist would be the agency that distribute the portfolio.
In divorces the important document is the settlement of dividing the estate. Which can just be a piece of paper signed by the parties or it can come from endless tracasseries via lawyers.
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I don't, but you probably want to say if you're in the US and which state, or which country if not the US, as the laws on this vary by place
Good point. California.
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It is an asset and a value can be agreed on. It compares to a family business.
When the value is agreed on it becomes a part of the estate, like the car and paintings, and shared between the divorcees.
Putting a value to the port is not easy, so the only way is to negotiate it, and if you fail to agree, you may want to have a specialist put a value to it. A specialist would be the agency that distribute the portfolio.
In divorces the important document is the settlement of dividing the estate. Which can just be a piece of paper signed by the parties or it can come from endless tracasseries via lawyers.
That sounds like a nightmare trying to determine future value factors. I guess it would be handled like the value of a business and future earnings. It would indeed be a main negotiation lever in the settlement agreement.
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Maybe you should approach it as a copyright issue rather than a property issue.
Or, approach from average annual income from the portfolios.
Think about writers and artists who went through many such experiences ... Hemmingway for example. :-\
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California is a 50/50 state. Try to buy her out with one lump sum like I did on my divorce. Don't have any future investments with her- cut the strings. Remember that divorce is sort of like war! Go after her stuff as well! Negotiate everything on paper (legal contact) and try to not use an attorney if you can to save $$. I used legal separations and saved about $20,000 in court and legal fees. Good luck...
T