Articles Posted in Engagement rings

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Engagement and wedding rings are often an important symbol of a marriage. While these items often lose meaning after a married couple decides to file for divorce, they are often valuable pieces of property and each spouse may wonder who gets to keep the rings after the separation is finalized The answer to this question will depend on the particular circumstances surrounding your divorce, and an experienced attorney can better advise you after learning the specific details of your situation.

Are rings non-marital or marital property?

Rings are property just like a home, assets, furniture, or other valuables. Under most circumstances in Florida, each spouse is able to keep his or her own belongings brought into the marriage. Such belongings are referred to as non-marital or separate property. Florida divorce laws, however, require that all marital property be equitably divided between the two spouses. Equitable does not mean equal, and courts will take many different factors into consideration in deciding how to divide property.

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One question I get quite frequently is whether or not an engagement ring is considered a marital asset.

In order to answer this question you need to know what a marital asset is. A marital asset is any asset acquired during the marriage. An engagement ring is generally a gift that is received prior to a marriage, therefore engagement rings are nonmarital, separate property of the recipient spouse.

A distinction should be made between gifts of jewelry that are made between the parties during the marriage. These items are considered interspousal gifts, and interspousal gifts are treated as marital assets.

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698266_rings.jpgThe age old question, which invariably comes up time and time again. The answer to this question is determined by examining the reason why an engagement ring is given by one party to the other.

An engagement ring is a gift made upon the implied condition that a marriage is to occur. If a marriage does in fact occur, the courts will most likely follow the general rule that engagement rings are not marital assets subject to equitable distribution. Rather, they are the separate property of the recipient.

In the event a marriage does not occur, the chances are much better for recovery of the ring, since it was conditioned upon the subsequent marriage.