If you and your spouse have significant assets, then you’re bound to have conflict over how to divide your marital estate. After all, the outcome of this distribution can dictate what your post-divorce life will look like from a financial perspective.
As you try to figure out the best way to navigate this process to protect your financial well-being, you might also be worried about how sentimental assets, such as family heirlooms, will be divided.
Tips for dividing sentimental assets in your divorce
Figuring out how to handle sentimental assets can be tough. While some of these assets might be valuable from a financial perspective, many aren’t.
As a result, a lot of individuals struggle to figure out how hard they should fight for those sentimental assets and whether they should give up other marital assets to secure them.
As you prepare to address sentimental assets in your divorce, here are some key considerations that you’ll want to keep in mind:
- Your priorities when it comes to sentimental assets, given that you won’t be able to keep all of them that fall into the marital estate.
- Whether giving the assets to your children is a viable option when you and your spouse can’t agree on how they should be divided.
- The amount of financial resources you’re willing to give up in exchange for the sentimental asset in question, keeping in mind your post-divorce financial needs.
- Whether there’s a way to share the sentimental asset, such as by uploading family photos to a shared drive.
- If there’s a way to continue to share the sentimental asset.
Know how you want to address sentimental assets in your divorce
There are various ways to address these assets in your divorce. You might even be able to remove them from the property division process altogether if you inherited the property and kept it separate from the marital estate.
But it can be confusing to navigate this process when you’re unfamiliar with it. That’s why it’s a good idea to educate yourself on the process and what you can do to protect your interests and your future.