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Are rings marital or separate property?

37275704_S.jpgIllinois residents know that a marriage usually begins with an engagement, and often, the engagement and subsequent wedding ceremony involve the exchange of rings. These rings might have financial and sentimental value for the parties, as they are a representation of the couple's love. However, they might become a source of additional conflict if the couple later decides to end their marriage. If you find yourself in this situation, you might be wondering who the rings belong to in the event of a divorce.

There is no set answer to this question. However, you might feel that you have made a bigger investment into the rings and that when property is being divided you have a real claim to them. In other cases, it might be the other party seeking them. In actuality simply claiming the investment will not necessarily result in getting the rings. The rings might be considered separate property instead of marital property, and this would affect who gets the rings, you or your ex-spouse.

However, you might be able to arrive at an agreement during the negotiation of a property division agreement. In that case, the rings might end up with you, but only if they are exchanged as part of the divorce settlement.

Our lawyers have worked with situations similar to this and can offer their knowledge and past experience in negotiating comprehensive settlement agreements that address these types of issues. If you would like additional information about the services we might be able to provide, please visit our page on property division.

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