Creative Professional Divorce Checklist: Art, Agency & Investment Edition

Art & Collection Documentation

Before Anyone Starts Moving Pieces

Photograph entire art collection with timestamps

Why: Pieces can be relocated, sold, or 'loaned' during proceedings

Tip: Include gallery walls, storage areas, and any off-site locations

Gather all purchase receipts, provenance documents, and appraisals

Why: Acquisition date determines marital vs. non-marital classification

Tip: Check gallery invoices, auction house records, and insurance riders

Document any art acquired as gifts or inheritance

Why: Gifted art may be non-marital property if properly documented

Tip: Written gift letters and donor intent documentation matter

List all art currently on loan, consignment, or in galleries

Why: Art outside your home is still marital property subject to division

Tip: Review consignment agreements for sale restrictions

Get current fair market value appraisals from certified appraisers

Why: Art values fluctuate; insurance values often differ from FMV

Tip: Use ASA (American Society of Appraisers) certified professionals

Document wine collection, watches, and luxury collectibles

Why: These alternative assets often slip through standard discovery

Tip: Wine storage facilities have inventory records; request yours

Creative Agency & Business Valuation

Critical for Agency Owners

Compile client contracts with terms, durations, and revenue

Why: Recurring revenue and contract backlog affect business value

Tip: Include retainer agreements, project pipelines, and LOIs

Document your personal vs. agency brand separation

Why: Personal goodwill may be non-marital; enterprise goodwill is divisible

Tip: Track which clients came from your reputation vs. agency referrals

List all intellectual property: campaigns, designs, trademarks

Why: Creative IP has value beyond client billings

Tip: Check copyright registrations and trademark filings

Gather partnership or operating agreements

Why: Buyout provisions and valuation formulas affect division

Tip: Review any right-of-first-refusal clauses

Document key employee relationships and non-competes

Why: Agency value depends on team retention assumptions

Tip: Note any employees who might leave with you or spouse

Track freelancer and contractor relationships

Why: Undocumented contractors may obscure true profitability

Tip: 1099s reveal contractor dependency patterns

Real Estate & Gallery Space

If You Own Commercial or Mixed-Use

Document any live/work spaces and studio arrangements

Why: Mixed-use properties require complex valuation and division

Tip: Zoning documents show permitted uses affecting value

Review gallery lease terms and transferability

Why: Commercial leases may have assignment restrictions or personal guarantees

Tip: River North gallery leases often have art display requirements

Separate business improvements from personal residence value

Why: Gallery buildouts may be business assets, not real estate

Tip: Keep contractor invoices categorized by business vs. residential

Get commercial real estate appraisal if applicable

Why: River North commercial values differ significantly from residential

Tip: Use appraiser with Chicago commercial gallery experience

Digital & Brand Assets

Protect Your Online Presence

Document social media accounts and follower counts

Why: Instagram, TikTok presence has business value for creatives

Tip: Screenshot follower counts, engagement rates, sponsorship history

List all domain names and hosting arrangements

Why: Portfolio domains, agency sites are business assets

Tip: Check GoDaddy, Namecheap, etc. for complete domain inventory

Secure personal creative accounts and portfolios

Why: Shared login credentials can lock you out of your work

Tip: Change passwords on Behance, Dribbble, Adobe, Figma accounts

Document any licensing deals or royalty streams

Why: Ongoing royalties from past work are marital income

Tip: Check stock photo/video, music licensing, NFT royalty settings

Inventory NFTs and digital art holdings

Why: Crypto wallets containing NFTs require specialized tracing

Tip: Screenshot wallet contents; blockchain is permanent record

Lifestyle & Entertainment Assets

Document the River North Lifestyle

List all club memberships (Soho House, private clubs)

Why: Membership deposits and transfers have value

Tip: Review membership agreements for transfer or buyout provisions

Document season tickets, VIP packages, and event access

Why: Bulls/Blackhawks season tickets and restaurant reservations have value

Tip: Check whose name is on the account

Inventory vehicle collection including classic cars

Why: Classic and collector vehicles require specialized appraisal

Tip: Hagerty or similar specialty insurer values are useful starting points

Document any boats, aircraft shares, or fractional ownership

Why: Fractional ownership complicates division logistics

Tip: Review operating agreements for exit provisions

Professional Team Assembly

Early Stage

Find attorney experienced with business and art valuation

Why: Creative asset division requires specialized expertise

Tip: Ask about experience with agency buyouts and art appraisals

Identify art appraiser certified by ASA or AAA

Why: Court requires qualified appraisals for art division

Tip: ASA (American Society of Appraisers) or AAA certification is standard

Line up business valuator with creative industry experience

Why: Agency valuation differs from traditional business valuation

Tip: Ask about experience with marketing, design, or creative firms

Consider forensic accountant for complex income analysis

Why: Creative income is often irregular and project-based

Tip: Averaging methodologies affect maintenance calculations

Creative Professional Divorce Checklist