- Key Takeaways:
• Dividing jewellery can be a contentious process, especially if the items are precious heirlooms or are worth a lot of money.
• Generally, gifts are kept by the person who received them, but there are exceptions.
• Options for dividing jewellery include selling it, letting each party keep their own items, or donating it.
• Emotional considerations should be made to avoid power struggles and arguments.
Most couples assume they must divide assets 50-50 during a divorce. However, that’s not always the case with jewellery.
The splitting of jewellery can be a contentious process, especially if items given to the husband or wife are precious heirlooms or are worth a lot of money.
We’ll look at what happens to jewellery during a divorce and the financial and emotional consequences. You’ll learn more about the process and how to manage it.
How Does The Legal Process Of Dividing Assets, Including Jewellery, Work In A Divorce?
Generally, the husband or wife can keep gold rings and other jewellery gifted to them by their spouse. However, there is an exception. If you can prove that you gave jewellery with the express intention that your spouse returned it upon the marriage breaking down, you could get it back.
This rule comes from the Married Women’s Property Act of 1882. The legislation denied husbands the right to get their divorced wife rings back automatically. Previous legislation saw wedding rings as “decorations” of wives, permitting the husband to take them back if the marriage failed.
How To Resolve Disputes Over Jewellery During A Divorce
The best way to resolve disputes over jewellery is to sign a pre-nuptial or pre-civil partnership agreement stating what will happen to the rings during a divorce. Most couples will agree to return the jewellery to their separated partner, particularly if they are valuable family heirlooms.
Options For Dividing Jewellery In A Divorce
Dividing a physical piece of jewellery between two people 50-50 is usually impossible. Therefore, couples must find other strategies to split their assets.
One option is to sell the jewellery. Couples can then split the money between them.
Another option is to let each party keep their respective rings and jewellery. Usually, this approach works if the value of your jewellery is similar.
Some couples also consider donating their jewellery to a good cause. They might adopt this approach if they have healthy finances or both believe in supporting a worthy cause.
What Emotional Considerations Should You Make When Dividing Jewellery?
The emotional implications of dividing assets can be extreme, leading to disputes. Therefore, you need to be careful whenever you broach this subject.
Always consider the sentimental value and attachment you and your spouse have towards various items. For instance, you might value an ancient family heirloom more than they do, even though you gifted it to them. Likewise, they might have a stronger attachment to some items compared to you.
How To Manage Emotions And Make Rational Decisions During The Divorce Process
Lastly, you’ll want to avoid power struggles and arguments with your former spouse over jewellery. Think carefully about who should keep each item and try to negotiate.
You’ll also want to make sure you understand that it’s okay for each party to have different feelings. Giving yourself a break is perfectly fine. Taking time away from the issue can often provide some much-needed clarity on what you should do next.