Who Will Get the Wedding Ring in the Case of Divorce?

Who Will Get the Wedding Ring in the Case of Divorce?

Divorce can be a tough journey, often filled with heated debates, especially when it comes to dividing valuable possessions like wedding rings. These rings aren’t just symbols of love; they also represent significant financial investments. In fact, according to The Knot’s 2023 jewelry and engagement study, the average engagement ring costs around $5,500! This highlights why it’s crucial to handle these sentimental and valuable items carefully during divorce negotiations. Read on to discover how these assets are usually managed in divorce settlements.

Defining Marital and Non-Marital Property

One fundamental concept that guides the division of property in divorce cases is distinguishing between marital and non-marital property. Marital property generally includes any assets acquired during the marriage, while non-marital property typically refers to assets owned by one spouse before the marriage or received as a gift or inheritance during the marriage. In Illinois, marital property is divided fairly between the spouses, while non-marital property is usually exempt from division.

Legal Status of Wedding Rings in Illinois

Engagement rings, often given before marriage, are generally seen as gifts made in contemplation of marriage. Once the marriage occurs, the promise is fulfilled, making the engagement ring the recipient’s property. This classification typically designates the engagement ring as non-marital property, allowing the wearer to retain it post-divorce.

Wedding rings, usually exchanged during the ceremony, are also deemed gifts and thus classified as non-marital property. This means both parties typically retain their wedding rings after the divorce concludes.

Unique Circumstances

Even though wedding and engagement rings are technically viewed as non-marital property, situations may arise that complicate their division. For example, if a couple purchased the ring together, it could be considered marital property subject to division in the divorce settlement.

Things get tough when it comes to heirloom rings. In these cases, the ring may hold significant sentimental value to one party and their family, but legally, it is still considered non-marital property if given before the marriage. These situations require careful negotiation and can often involve family members.

Practical Advice for Deciding Who Keeps the Ring

Facing the question of who keeps the ring involves balancing legal rights with emotional needs. Open communication with your spouse can help you reach a mutually agreeable decision. Consider the sentimental value of the ring and its impact on both parties. If possible, discuss the possibility of returning heirloom rings to the original family.

Seeking legal counsel is key to navigating these waters. An attorney can offer guidance based on the specific circumstances of your case. Remember, the goal is to find a resolution that respects both legal principles and personal sentiments, minimizing conflict and emotional strain.

Let Andrea Heckman Law Help You Navigate Your Divorce

Ultimately, while people typically get to keep their wedding ring after a divorce, it is essential to understand the complexities involved in dividing assets during this emotionally charged process. At Andrea Heckman Law, we understand the complexities of divorce proceedings and are committed to helping clients reach a fair and amicable resolution. Our team of experienced attorneys can provide compassionate guidance and strong advocacy to help you navigate the division of property, including valuable assets like wedding rings. Contact us today for a consultation, and let us help you through this challenging time with dignity.