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misbegottenSource:
I was recently gifted a family heirloom — a century-old five-carat diamond ring. It is most likely worth six figures. I was shocked; I am not very close with the relative who gave me the ring, by his choice. There are a lot of painful relationships in this particular branch of the family tree. As an adult, I have always tried to be kind and respectful to all of these relatives, while keeping my distance.
The relative who gave me this ring had used it to propose to his now ex-wife, and it was implied that I might use it to replace my engagement ring. (I have no idea why, as I love my engagement ring.) That is the only reason I can surmise that he gave it to me and not to any of his own children. He also said the ring originally belonged to my great-great-grandmother, but it actually belonged to her childless sister (who long survived her). I’m fairly certain that my mother was the only one of her siblings who visited my great-great-aunt on a regular basis.
My husband and I are newly married, and we find ourselves thinking about the value of this ring and how it could change our lives. A down payment on an apartment? A college fund for future children? And so on. We neither come from money nor make much money. If we sell this ring, it is a once-in-a-lifetime windfall.
I’m worried my relative would want the ring back if he knew I was considering selling it. But this is not the kind of sentimental heirloom that everyone in the extended family knows about, and part of me would not be surprised if he never asked about it again. He is also very wealthy, so as a financial asset the ring matters much more to me. Still, he could, one day, ask about the ring, and who knows what ugliness might ensue from this complicated family if I sold it. But I’m more concerned about my own ethics here — what are my rights regarding this gift, and what explanation do I owe? — Name Withheld
( On gifts )
I was recently gifted a family heirloom — a century-old five-carat diamond ring. It is most likely worth six figures. I was shocked; I am not very close with the relative who gave me the ring, by his choice. There are a lot of painful relationships in this particular branch of the family tree. As an adult, I have always tried to be kind and respectful to all of these relatives, while keeping my distance.
The relative who gave me this ring had used it to propose to his now ex-wife, and it was implied that I might use it to replace my engagement ring. (I have no idea why, as I love my engagement ring.) That is the only reason I can surmise that he gave it to me and not to any of his own children. He also said the ring originally belonged to my great-great-grandmother, but it actually belonged to her childless sister (who long survived her). I’m fairly certain that my mother was the only one of her siblings who visited my great-great-aunt on a regular basis.
My husband and I are newly married, and we find ourselves thinking about the value of this ring and how it could change our lives. A down payment on an apartment? A college fund for future children? And so on. We neither come from money nor make much money. If we sell this ring, it is a once-in-a-lifetime windfall.
I’m worried my relative would want the ring back if he knew I was considering selling it. But this is not the kind of sentimental heirloom that everyone in the extended family knows about, and part of me would not be surprised if he never asked about it again. He is also very wealthy, so as a financial asset the ring matters much more to me. Still, he could, one day, ask about the ring, and who knows what ugliness might ensue from this complicated family if I sold it. But I’m more concerned about my own ethics here — what are my rights regarding this gift, and what explanation do I owe? — Name Withheld
( On gifts )