Isn't it strange that men use their mother's ring, as if they are marrying their mother? As William says, "it's my way of making her a part of something she couldn't otherwise share."
Isn't the wedding ring too close a place inside the couple for the mother to share? It seems a curious habit. It's not exactly marrying your mother, but symbolically related. As men supposedly want to marry their mother and women their father, perhaps the groom should wear her father's tie? It would be funny if men had to wear the wife's father's tie all the time with them. Or perhaps their cufflinks.
Maybe it's a way of saying - don't cheat, the mother's eye is on you, as Julie mentions The lord of the rings and how rings are often associated with eyes.
(I am aware of the complications as many more women also hate their father because of how they treated their mother, and other issues here. The different psychology framework involved makes this an unlikely habit to catch-on.)
I understand the monetary reasons for reusing the ring, and in this case I can see it hard for Kate not to want such a beautiful ring:


But besides the important monetary reason, it seems the couple would want to start something fresh for themselves, whether the ring is good or an evil one :-).
As for whether elements have an everlasting soul, I think Mia's response can be linked to the question of
Can one's character really change?