Yates Family Law, P.C.
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going separate ways?
Changes Lead To Choices Your Expert Guides Through Changing Times
Yates Family Law, P.C.
Speak with one of our attorneys today.
going separate ways?
Changes Lead To ChoicesYour Expert Guides Through Changing Times
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Should you have a prenup for an heirloom engagement ring?

On Behalf of | May 27, 2022 | Divorce, Prenuptial Agreement |

If you are intending to pop the question, you have probably thought about arranging the perfect proposal. After all, your soon-to-be husband or wife may have dreamed about the proposal for years. To make the occasion particularly special, you may want to use a ring that is a family heirloom.

Proposing with an heirloom ring can be dangerous, of course, as you risk losing the ring in a future divorce. To protect your family’s treasured property, you may want to write up a prenuptial agreement before giving away the ring.

The nature of gifts

During any divorce, both spouses must divide the marital estate. According to the Oregon Judicial Branch, each person has an equitable interest in all marital assets. These assets usually include everything you and your spouse acquire during your marriage. Gifts made to only one spouse are usually not part of the marital estate, however.

Because you give the heirloom ring to your future husband or wife, it is likely a gift that is separate from your marital estate. Therefore, your spouse can probably keep the ring after your divorce.

The usefulness of prenuptial agreements

If you do not like this outcome, drafting a prenuptial agreement may be the solution. Indeed, the prenuptial agreement can describe precisely what happens to the heirloom ring after a divorce. Provided your spouse signs the agreement willingly and knowingly before your marriage takes place, he or she probably has to abide by its terms.

Ultimately, to keep your relatives happy while delighting your soon-to-be husband or wife, it may be worthwhile to address the heirloom ring’s future in your prenuptial agreement.