As you navigate your divorce, you need to be focused on your financial stability in both the short-term and the long-term. Yet, there’s a lot more that goes into divorce than simply figuring out your finances. When it comes to property, you’ll also have to sort out how you’re going to deal with assets that have sentimental value.
How to handle items with sentimental value in your divorce
The property division process can be tough. But by thoroughly planning your negotiation and litigation strategy, you can make the process significantly easier. When it comes to your sentimental assets, here are some tips that might help position you for a successful outcome:
- Make a list of sentimental assets so that you know what’s in play and what your spouse might fight for.
- Consider if there’s a way for you and your spouse to share the sentimental assets in question.
- Make copies of sentimental assets, if possible, that way you don’t have to worry about dividing them.
- Think about giving sentimental assets to your children so that they remain accessible to both parents while eliminating fighting over ownership.
- Consider if co-ownership is a viable option.
- Assess financial assets to see if there are any that you’re willing to part with to secure the sentimental asset.
Although it can be tempting to fight tooth and nail for a sentimental asset, you need to be careful that you don’t disadvantage yourself from a financial perspective just to secure the asset that holds sentimental value.
Get a handle on your divorce legal strategy
There’s a lot to take into account as you head into your divorce, including community property division. But you can ease the stress and maximize your chances of a successful outcome by developing a well thought out legal strategy.