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Determining division of marital assets in Texas divorce difficult

Wednesday, June 20, 2018

One of the most challenging aspects of the dissolution of a relationship is determining what will happen to the couple's assets. This is particularly true of engagement rings, given the amount of money people often spend on these pieces of jewelry. Those entertaining the possibility of a Texas divorce should enter the process with full knowledge of their rights and responsibilities under state law as it pertains to the division of physical assets.

An engagement ring, as previously noted, can often be an expensive purchase, and given it is meant to be a symbol of a committed relationship, it can come with considerable emotional gravitas as well. However, the question of "who gets the ring" varies from state to state, particularly if the relationship does not reach the marriage stage. Often, if a marriage is called off before papers are signed, a ring can be legally returned to whichever party purchased it.

Once a marriage is in effect, however, the question of ownership is a state issue. Here in Texas, the engagement ring is considered a pre-marital gift, which means ownership is wholly the province of the spouse to whom it was given. It is therefore not counted as part of the marital assets and is not included in division of those assets.

It is no secret that Texas divorce can be costly, so it is good advice for anyone considering the process to be educated ahead of time. Understanding how assets will be divided is a key part of planning for life post-divorce. This understanding can also mean the difference between drawn-out negotiations and a relatively quick and efficient divorce process.

Source: Huffington Post, Give Me My Ring Back! (Who Gets the Wedding Rings in a Divorce?), Natalie Gregg, Sept. 23

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