Some of the most difficult discussions you may have during your divorce won’t center around major assets, custody or support. Instead, they’ll be focused on items that may have fairly little monetary value – if any.
Photo albums, a random teapot that was purchased on a vacation overseas or a set of “Bunnicula” books that you read to your children when they were little, among other things, can take on oversized importance in a divorce. When both couples attach a lot of emotional value to specific objects, they can become sticking points in your divorce.
Indiana’s marital property rules don’t make it easier
In some states, family heirlooms that you inherited, individual gifts and some other items might be considered one spouse’s separate property – but Indiana is different. The state’s “one pot” rule says that everything either spouse owns, regardless of when, how and by which spouse it was obtained, is part of the marital estate unless a prenuptial or postnuptial agreement creates a carve-out.
That means you will likely have to do some negotiating with your spouse over sentimental items. Whenever possible, you should try to resolve any conflict through practical compromises, like:
- Digitizing photographs and making copies for both parties
- Dividing keepsakes and heirlooms according to family connections
- Agreeing to set some heirlooms aside for the children when they become adults
What happens when a compromise isn’t possible or agreeable? One option is to separate the items being disputed that have actual cash value from those with largely sentimental worth and treat them differently.
An item like a grandmother’s ring, for example, may have some cash value. Once it is appraised, you or your spouse may agree to give up another asset of equal or greater value, like a prized painting you both want, in exchange for keeping the jewelry.
Once those items are divided, attention can turn to the items that have negligible monetary value on the open market. You and your spouse can simply take turns choosing items from the disputed list until everything is claimed.
Ideally, you and your spouse will be able to negotiate the disposition of these kinds of items on your own, perhaps with the assistance of your legal representatives. If that doesn’t happen, a judge may have to decide. Having experienced legal guidance can help you protect your rights and work to keep what is valuable to you.