Widget Factory question re binding Instance in .data()

Widget Factory question re binding Instance in .data()

I'm asking this question here because this functionality is standard to all UI widgets, and is handled by the widget factory...
 
I have a jQuery plugin - which I will convert to a UI widget in the next version - but in the current, non-widget version I want to bind an Instance object/pointer to the widget-element(s) using .data(). In other words, I want to replicate what all UI widgets do, for example:
 
var Instance = $("#myDraggableElem").data("draggable");
 
Internally, my plug-in maintains static object pointers to the widget elements, so my concern/question is:
 
Will adding an instance pointer using .data() potentially create a memory leak since technically there would now be a circular reference between the element and the widget instance - each points to the other. Does the widget factory include special handling for these instance pointers OR is using jQuery .data() automatically safe from these types of issues?
 
I suspect the latter is true, but I'm hoping someone familiar with the inner workings both data() and UI widgets can confirm this before I do it. I would hate to create a nasty memory leak!
 
Thanks in advance for any input.