As you navigate your divorce, you’re likely to find yourself facing serious property division considerations. While the outcome of this process can shape your financial stability for years to come, it can also be difficult to navigate given the emotional attachments involved. This is understandable. After all, you and your spouse might own a lot of assets that carry significant sentimental value. So, what should you do in these situations?
Your options for how to deal with your sentimental assets
There are various ways you can handle your assets in your divorce. This includes the following:
- Giving up other marital assets in order to keep those assets that are important to you.
- Paying your spouse to essentially purchase those assets to which you have an emotional attachment.
- Talking to your spouse about selling those assets and dividing the proceeds.
- Continuing joint ownership of those assets to which you have an emotional attachment.
Some of these options may not work for you. However, the path that you choose may depend on the assets in question and what you want out of your future. For example, even though you may be emotionally attached to the family home, keeping it on your sole income could be a challenge. So, carefully think through what keeping sentimental assets means for you, especially if you’ll be giving up assets with significant financial value in return.
Develop a strategy that works for you
There are a lot of decisions that you’ll have to make in your divorce. That’s why now is the time to start thinking through them so that you can formulate a plan that protects your interests. Then, you can hopefully move through the process confident that you’re making the decisions that are right for you and your future.