Gay Marriage and Engagement Rings

Hi there,

If you read this blog I am sure you already guessed that I was thrilled to hear that the Federal Court has found California’s Prop 8 (the vote that overturned gay marriage in California) unconstitutional. There is still a long, long way to go, but this is a terrific decision in my book.

A question that often comes up in divorces is what happens to the engagement ring.  Once you are married it clearly is a gift that belongs to the spouse who wore it. However if it was a family piece it can sometimes go back to the giftor.  It’s value is included in the division of assets.  David Clement, who writes the terrific New York Divorce Blog, had a recent post on this. Jewelry is generally worth only about a third of the purchase price so that can be a shock.  Often someone will need to sell the ring for legal fees, or simply because the memories are bad.  A colleague just sent me a link to what looks like a terrific site if you wish to sell.



1 Comment

  1. Hopefully I will be able to afford a top notch engagement ring when I propose next month to my girlfriend.

Comments are closed.