Who Gets the Antiques in a Mississippi Divorce?

Antiques are often some of the most valuable assets in a marital estate — whether spouses actually realize it or not. Sometimes, these antiques can be worth millions of dollars. In other situations, these items have sentimental value that makes them priceless, and they may include family heirlooms that have been passed down through the generations. But how are these antiques divided in a Mississippi divorce? Who gets to walk away with the war medals grandpa won in World War II, or the old pocket watch from several centuries ago? Let’s find out:

Always Get Your Antiques Properly Valued

You don’t know how much your marital estate is worth until you properly value all of your assets — and that includes antiques, collectibles, and other things of that nature. Take the time to speak with an expert and get these assets properly assessed. You never know what you’re dealing with until you go through this process — and you may be dealing with something much more valuable than you ever thought imaginable.

Can I Keep the Value of My Antiques a Secret?

But what happens when you find out grandpa’s bottle cap collection is worth millions of dollars? Can you keep this information to yourself and hope that your spouse doesn’t notice? What if you subtly mention that you’d like to keep the antique — playing it off like it’s nothing more than a minor novelty? Technically speaking, this is against the law. You have a fiduciary to your spouse, and this means that you must reveal as much information as possible about assets within the marital estate. If you try to keep the true value of your antiques a secret, you may be accused of “concealing assets.”

Dividing Priceless Family Heirlooms

Even if your antiques are only worth a few dollars, you might still want to hold onto them. These items may have sentimental value to you, and you may want to keep them in the family at all costs. In this situation, there are a few things that you need to keep in mind.

First, Mississippi’s equitable distribution process will take into account any relevant factors in the property division process — and this includes the sentimental value and the intrinsic importance of assets to either spouse.

Secondly, you should remember that inherited property is always considered “separate” from marital property. If your grandma specifically left you a priceless quilt in their will, your ex cannot claim 50% of its value in the divorce. These assets always remain in your possession no matter what happens.

Where Can I Find a Qualified, Experienced Divorce Attorney in Mississippi?

If you’ve been searching for a qualified, experienced divorce attorney in Mississippi, look no further than Ballard Law, PLLC. Over the years, we have helped numerous divorcing spouses pursue the best possible results. The property division process isn’t always easy, especially when you’re dealing with antiques and other items that are difficult to value. With our assistance, you can approach this situation in a confident, efficient manner. Book your consultation today to get started with an effective action plan.

Sources

1. https://www.countryliving.com/shopping/antiques/g3429/valuable-antiques/
2. https://www.thesprucecrafts.com/most-valuable-antiques-4158524

Ballard Law, PLLC

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Jackson, MS 39201
(769) 572-5111

If you have further questions about this article or legal concerns, call 800-672-3103