Howard Pasamanick Photography
http://www.people.com/people/article/0,,20587306,00.html
Well after seven years and six kids together, Brad finally put a ring on it. And from the looks of Angelina’s engagement ring, it was worth the wait! According to www.people.com (my top source for all of the really important news in the world), the ring reportedly weighs more than ten carats and cost Brad $1 million.
Seeing this picture of the gorgeous sparkler made me think about a question I am sometimes asked by my female clients whose divorces are approaching – “Do I get to keep my engagement ring?
The
answer is usually pretty straightforward.
Before a couple walks down the aisle, the engagement ring is considered
a conditional gift. If the engagement is
broken, the ring must be returned.
However, once the knot is officially tied, the engagement ring is
officially hers. If the couple divorces,
it is considered to be a pre-marital gift to the wife, not a marital asset, and
is therefore not subject to equitable distribution.
However,
there are some exceptions that leave room for argument. What if the couple spent joint funds on the
ring and then the engagement was called off?
What if the parties were married for ten years but this ring originally
belonged to the husband’s late grandmother?
And that is when a lawyer
might need to get involved.
In
any event, an engagement is a time of great happiness, love, excitement and
hope for the future. The engagement ring
is a symbol of that. And if you are
lucky enough to have a symbol that looks anything like Angie’s –
CONGRATULATIONS!
