Dividing substantial assets in a Las Vegas divorce
She can afford to set a spending record on a painting sold at auction. Art patron Elaine Wynn, co-founder of Wynn Resorts and former wife of Las Vegas icon Steve Wynn, can add the $142 million Francis Bacon triptych to her already impressive collection. She and her ex-husband collected a number of valuable art pieces during their two long marriages (the first lasted 23 years; the second was for 19 years).
When the pair split the second time, the divorce was amicable with the two avid art patrons dividing famous pieces between them. Because their tastes diverge, the division was free of disputes, Artnet News recently reported. She got Picassos, a Manet and a textile piece by Jim Hodges, among others. Her ex also got Picasso, Rembrandt, Vermeer and Van Gogh.
Both got the artworks that meant the most to them, according to the article. But in large marital estate cases in which property division is not quite as beautiful and easy, tempers can flare and attorney fees soar. That’s why it is so important to have on your side an attorney who understands how to protect assets you have at the top of your list of priorities.
If that asset is a family business, it’s essential to keep it operating while valuation and negotiations take place. We pursue outcomes that protect the possessions and properties you prize most.
It’s not in anyone’s interests to have a family business destroyed by divorce. At Kainen Law Group, we understand that and work with you and the other party to safeguard your today and tomorrow in divorce and property division proceedings. Please see our Las Vegas Marital Property Division Attorneys page to learn more.