Handling Sentimental Assets in Divorce

Balancing Emotion and Family Law

Dividing assets is amongst the lengthiest and most difficult processes during a separation. This complication is only increased when sentimental items are involved, and things typically become more emotionally charged.

Understanding How Sentimental Assets Are Divided

Family law will primarily focus on monetary value when dividing property however, certain assets will often outweigh their financial value in sentimentality. The division of sentimental assets has the following legal principles:

Marital vs. Separate Property

Generally, items acquired during the marriage are going to be considered marital property and subsequently subject to division. However, gifts and inheritances received by one spouse before the marriage may be excluded.

Monetary Valuation

If an item has financial value, like say an antique or collectable, an appraisal may be required.

Negotiation and Compromise

Courts encourage spouses to resolve disputes like these through negotiation. The legal system does not assign emotional value to assets and is perhaps ill-equipped to deal with them to one’s liking.

Common Sentimental Assets and How to Handle Them

Family Heirlooms

• If an heirloom is passed down through only one spouse’s family, it may be considered separate property and remain with the original owner.
• If acquired during the marriage, the heirloom will likely follow the rules of marital property, and be divided as such.

Wedding items

• Wedding rings and gifts are going to likely be considered gifts to each spouse individually and not be divided.
• Photo albums and videos can be digitally copied, so both parties may keep one.

Pets

• In Ontario, pets are still considered property and will be divided as such. Original owner on vet documents and whatnot will be considered.
  • Pet ownership is a changing area of family law, and other provinces have begun to view them as family members and consider the best interests of the pet, but this has yet to catch on in Ontario.

Tips For Balancing Emotion and Legal Considerations

• Prioritize What Matters Most – Consider what you are willing to compromise on.
• Use Mediation for Disputed Items – Mediation is a cheaper and more amicable route to reach an agreement. It may also provide more weight to sentimentality arguments than the courts.
• Consider Alternative Solutions – Creative solutions like taking turns displaying or creating a duplicate of an item both parents want can work.
• Remain Objective – While emotions are natural, drawing out legal battles over items of little monetary value may prove costly and add additional stress.

Finding Resolution with Sentimental Assets in Divorce

Dividing settlement assets in a divorce, especially those with sentimental value, can be a stressful process. Focusing on compromise rather than conflict can help both parties move forward with peace of mind.

Are You Seeking a Divorce?

INB Family Law LLP has a team of dedicated professionals ready to walk you through whatever stage of the divorce process you may be in, or other family law matters entirely. Book a consultation today.