Sometimes, wedding and engagement rings are worth quite a bit of money, leading clients to ask us who might receive those rings in a divorce settlement. The answer is more complicated than you might think. It’s usually a decision tinged with emotion for the parties, and timing for the court.
Engagement rings are typically given prior to the wedding. However, if the ring is not entirely paid for by that date, it may be paid for after the wedding with marital funds. Then, it would be part non-marital gift, and part marital. The same financing may be true of wedding rings. Thus, an analysis of payment and timing of payment will be relevant. It can be even more complicated if the ring has been handed down through the family, and now an heirloom could end up with a non-relative – the ex-spouse.
Other jewelry is typically a very different matter, even if that jewelry was originally a gift given to a spouse during the course of the marriage. Other jewelry is marital property and is typically divided up appropriately. If there are particular pieces that you feel strongly about holding on to then you will want to be sure to discuss those pieces with your family law attorney, just as you’d discuss any goal for the outcome of your divorce.
The allocation of assets is a difficult matter for just about any divorce case. This is why it’s a good idea to have a qualified divorce attorney on your side as you pursue your case. Contact the lawyers at Barna, Guzy, and Steffen to get the help that you need. We’ve been serving the residents of Anoka County and Hennepin County for over 75 years, and we’re ready to help you, too.