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.
In order to help determine what happens to engagement and wedding rings, a court must first determine whether each is non-marital or marital property. First, an engagement ring is generally given to a bride-to-be months before the marriage, thus she owns the ring while she is still single. Even though the future groom purchased the ring, the future bride takes ownership when she receives it as a gift. Therefore, an engagement ring is generally considered separate property and the bride tends to keep the engagement ring.
On the other hand, wedding rings are exchanged at the marriage ceremony, so Florida courts generally consider these rings to be marital property. For this reason, the value of the wedding rings would need to be equitably divided, just like any other piece of jewelry or property the couple acquired during the marriage.
Coming to an Agreement with Your Spouse
In many cases, divorcing couples are able to work together to decide how to divide marital property so that the court does not have to intervene. In these situations, the couple may acknowledge that each spouse should keep their own wedding rings, regardless of the value. This type of situation is almost always preferable as each spouse’s feelings may be better respected and they will be able to do what they wish with their own wedding rings.
Even if you and your spouse cannot immediately agree on issues such as property division, an experienced attorney has many options to help you come to a settlement agreement, including mediation, negotiation, or arbitration.
Contact an Experienced Boca Raton Divorce Attorney for Help Today
Engagement and wedding rings are likely only one piece of a substantial amount of property that couples will need to divide equitably in a divorce. In order to ensure that you receive the best deal in your divorce possible, you should always contact the office of experienced divorce lawyer Alan R. Burton in Boca Raton. Mr. Burton is committed to helping divorcing couples come to satisfying and efficient resolutions, so call today to discuss your case.