Is a wedding ring a marital asset?
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Is a wedding ring a marital asset?
It says that an interspousal gift, that is a gift from one spouse to the other during the marriage, is a marital asset subject to equitable distribution. Due to the fact that the wedding rings are exchanged during the wedding ceremony, they are considered interspousal gifts and thus marital assets.
What happens to wedding ring in divorce?
In most cases, engagement and wedding rings are considered gifts from one spouse to the other. Gifts are almost always categorized as separate property, so the recipient owns the gift free and clear, and the value is not usually subject to division during divorce. Remember: those rings are yours and yours alone.
When should I take my wedding ring off in a divorce?
There is no right time to remove the wedding band after divorce. What feels right to you is going to be different for someone else. Some people remove their wedding ring the moment the other spouse moves out. Some remove it after the divorce is final.
