Experts weigh in on how to handle wedding rings after divorce

On behalf of South Tampa Law Group posted in divorce on Tuesday, February 26, 2019.

There are a great deal of issues to contend with during divorce proceedings. The division of property, splitting assets or determining child custody and support are all common concerns for those who are navigating a divorce here in Florida. However, there are some more difficult decisions that will need to be made that many people might not even consider. One such issue is what to do with wedding and engagement rings after a marriage has ended. Experts have different opinions on how to tackle this problem.

One expert recommends consulting the other spouse before making any decisions. An offer to return the ring could be made, particularly by an ex-wife since engagement rings traditionally given to women often have a high monetary value. Though they are generally considered a gift, the sentimental value and potential for them to be worth quite a bit of money means wedding rings are very different than more common, less expensive gifts. However, this may not be the best idea in all scenarios, especially if there is reason for one spouse to have minimal contact with the other.

A different expert says that the choice is solely up to the recipient of the ring. Though hurt feelings may cause a person to want to sell a ring very quickly, doing so may mean receiving less money than the true value of the jewelry. Since most people wouldn’t choose to wear them after a divorce, rings with gemstones can be reset into a different piece by a jeweler. Those who want to keep the rings, for sentimental reasons or to pass down to children perhaps, should keep them in a safe and secure location and have them insured if they aren’t already.

Whatever a person’s choice may be regarding his or her wedding rings, those who are divorcing may want the input of a legal expert. Here in Florida, a skilled attorney can represent the best interests of a spouse for all facets of divorce proceedings. It can be the first step toward a new life for everyone involved.