Protecting Family Heirlooms During a Divorce

Many people fear losing their treasured family heirlooms if they seek a divorce. Even if your partner lacks an emotional attachment to the item, you may be concerned that they will try to keep it. How likely is it that you would lose your family heirlooms to your spouse if you divorced them? The answer is that it’s possible, but not typical, to lose family heirlooms during a divorce.

When dividing up assets during a divorce, the first step is to determine if the heirloom is marital property or separate property. If the item is separate property, whoever it belongs to keeps it after the divorce. If the item is marital property, either spouse may make a claim on it. If you owned the item prior to your marriage, the item would count as separate property. If you acquired the heirloom through an inheritance or a gift to you by a parent or other family member, the heirloom also would generally count as separate property. There is a notable exception, though. If you invested marital funds or your spouse invested their funds to restore or increase the value of the object, then it becomes a marital asset.  Additionally, if you used the item during your marriage as a marital asset, then the other partner may be able to claim it was marital property as well.

If the heirloom is marital property, you will need to have it appraised. Often, heirlooms have a significant amount of sentimental value, but a relatively low monetary value, making them less desirable to your partner. If you and your spouse are able to negotiate among yourselves, that is the easiest and least expensive way to determine who will keep it. One spouse may offer to buy it from the other spouse or offer items of equal (or sometimes greater) value to persuade them to let you keep the item. If you are unable to negotiate yourselves, the next step is to negotiate keeping the item through your attorneys and/or a mediator. The last resort is to go to court and have a judge or jury decide who keeps the item; but this is rare. Most of the time, divorcing couples are able to work it out themselves or through their attorneys.

If you are thinking about divorce and worried about losing cherished possessions, contact Troy Legal. We can advise you on your legal rights and best options to avoid losing family heirlooms to your partner in a divorce. We are skilled negotiators in securing settlements for our clients and fierce fighters in court, when necessary. Call us to learn how we can help you through your divorce process.

Troy Legal, P.A. was founded in 2009 and serves clients throughout South Florida. Troy Legal, P.A., specializes in Marital and Family Law, providing reputable legal services for prenuptial and co-habitation agreements, paternity cases, adoption matters, alimony and child support, time sharing and parenting plans, drafting of qualified domestic relations orders (qdros), mediation services, equitable distributions, collaborative law, post-judgement modification and enforcement, domestic violence cases, and dissolution of marriage or divorce.  Troy Legal, P.A. is dedicated to serving clients through compassionate and aggressive representation, while upholding the highest degree of ethical standards.