Your wedding ring probably isn’t one of your most valuable assets – even from a strictly monetary standpoint. However, if it’s worth a fair amount of money and you’re not interested in keeping it for sentimental reasons or handing it down to a child. What should you do with it?
Likely, your soon-to-be ex can’t lay claim to it. Gifts to one spouse (including those between spouses) are typically considered separate property that doesn’t have to be divided.
Is the ring included in a prenup or postnup?
A key exception would be if there’s a clause in a prenuptial or postnuptial agreement requiring you to return it in a divorce. People sometimes include provisions like this if the ring is a family heirloom.
Even if the ring is not included in a marital agreement, you may choose to give it back so it can remain in your in-law’s family. Whether you choose to ask for something of equal value in return or do this simply as a goodwill gesture is your choice.
Get it appraised
Whether you’re planning to sell it, donate it to charity or use it as a bargaining chip in your property division negotiations, it’s wise to get your wedding ring appraised so you know what kind of money you’re talking about. Sometimes, people have no idea what their wedding rings are worth. Chances are, if there are any surprises, it will be that it’s worth less than you believed or maybe even that the stones in it aren’t real. However, it could turn out to be worth more than you imagined.
Your wedding ring (and perhaps other jewelry you received from your spouse over the years) could turn out to be among the most emotionally fraught assets you deal with during your divorce. However, it’s crucial to keep in mind that it has at least monetary value. Having sound legal guidance can help you make the best decision about it.
