After resolving their divorce and settling into life afterward, many people find themselves wondering what to do with their ring. Making the right choice can be an important emotional and financial decision, so we're here to lend a helping hand.
To schedule a consultation with our team for your divorce or family law case, contact us online or via phone at (845) 203-0997.
Who Keeps the Ring?
First, let's discuss who gets the ring when a divorce happens. In the majority of cases, wedding and engagement rings are considered the separate property of their respective owners. As such, each party typically gets to keep their rings post-divorce.
However, if parties decide to part ways before the marriage occurs, the party who proposed may be able to ask for the ring back from their fiance. However, even that isn't always a given - if one party proposes to the other on holiday, the fiance may be able to keep the engagement ring by arguing that it was intended as a gift for the associated event, and as such, is their separate property.
What Do I Do With the Ring Post-Divorce?
Realistically, you have a couple of options:
Sell It
Perhaps the most obvious option, engagement rings are often well-crafted, and you may be able to make a pretty penny on your engagement and wedding rings by selling them to a jeweler or a pawn shop. However, the more customized your ring is - such as with inscriptions - the less you'll get for it.
Save it For Someone in the Family
Many people put a lot of effort and money into their engagement rings, and don't want to sell them. While you may not want to use the same engagement ring for a future relationship, it could still make a meaningful gift for your child or someone you care about.
Find Closure Some Other Way
For many people, neither selling their rings nor passing them on feels right. Maybe you want to melt it down. Maybe you want to throw it in the river Thames. Maybe you just want to keep it on-hand as a memory of the journey you've taken throughout life. Find closure in the way that feels best to you.
If you're going through a divorce, we're here to help. Contact us online or via phone at (845) 203-0997 to schedule a consultation with our team.