When you get divorced, you know that you’ll have to split up all of your property. This can be one of the most contentious parts of the process actually. One item that might cause some confusion is the engagement ring. Who gets to keep it? There’s an answer that’s generally acceptable, but sometimes other considerations need to be made before a final decision is reached. A Tazewell County marital property division lawyer can help you when there is a debate over what should be done.
Is an Engagement Ring Considered Marital Property?
In many cases, an engagement ring is not going to be considered marital property or subject to asset division. Instead, it’s considered a gift from one person to another. To be more specific, it’s a “conditional” gift and the condition is getting married.
So if you propose and your fiance accepts the ring, that jewelry belongs to them as long as you get married. If you get a divorce, you don’t usually get to ask for the engagement ring back or say that it’s value should be split between you and your ex. However, there are some factors that can complicate matters and make the ring a sticking point during the property division process.
Are There Times When an Engagement Ring Should Be Returned?
There are some times when an engagement ring will get treated differently. As we mentioned, this is a conditional gift and the condition is getting married. So if the marriage never actually occurs because the recipient of the ring calls it off, then the ring should be returned. If the giver of the ring calls off the marriage, the receiver can actually keep the ring.
Some rings can also be treated differently. Arguments frequently arise when the ring is:
- A family heirloom
- Something that was purchased by both parties
- Given a significant upgrade during the marriage
In any of these situations, it may be harder to work out who should keep what or if the engagement ring should be a part of the property division process.
How Can a Divorce Lawyer Help?
If you are in one of the more complex situations mentioned above, that’s when you’ll probably want a lawyer’s help solving the problem. We can help divorcing couples reach all kinds of deals and move past this sticking point in the process. Whether you ultimately decide to return an heirloom to the family who owned it or you sell off an engagement ring and split the profits, we’re sure that we can help you come to some kind of arrangement.
Talk to Our Team
You should have someone who is ready to advocate for you during the divorce process. Contact Butler, Giraudo & Meister, P.C. to schedule a consultation and learn more about how our lawyers can help you protect yourself and fight for a fair divorce agreement.
