Massive art collection at stake in Macklowe high asset divorce

When a couple decides to dissolve their marriage, they typically have to face tough issues, such as custody matters and asset distribution. Those facing a high asset divorce, however, are generally confronted with unique situations that are not generally present in normal divorces. Those in Kentucky whose divorces fall into this category may be interested in a recent article regarding the proceedings of billionaires Harry and Linda Macklowe.

Macklowe started his career in real estate, but over the years became a substantial builder in New York City. His firm is responsible for erecting some of the most iconic buildings in the city, such as the new residential tower on Park Avenue that will be the tallest of its kind in the world after completion. Sources estimate that the Macklowe fortune is worth several billion dollars.

One important aspect of the couple's divorce will be the fate of the art collection, which is worth approximately $1 billion by some estimates. Linda serves on the board of trustees for New York's Guggenheim Museum currently, and she formerly held the curator position. The privately-held collection is believed to be one of the most valuable in the world.

Kentucky couples who are facing a high asset divorce could benefit from seeking the knowledge of an attorney with experience in this kind of litigation. Divorces of this type can take a significant amount of time to settle, and they are usually quite complex due to the various forms and amount of assets. Consulting an attorney who has specific experience in high asset divorces can help ensure fair negotiations and can potentially reduce the cost and length of the proceedings.

Source: news.artnet.com, "Huge Art Collection at Stake as Harry Macklowe Leaves Longtime Wife, Linda", Brian Boucher, June 1, 2016

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