Full question:
My wife and I have had a fallout in our marriage. We have been contemplating to get a divorce amicably. I was wondering about our marriage rings and how that would be settled in the event of a divorce. I bought our wedding rings which were a pair of 4 karat diamond studded platinum wedding bands. They have a substantial market value. Is there a way I can claim them both in the divorce settlement?
- Category: Divorce
- Subcategory: Property Settlements
- Date:
- State: Illinois
Answer:
In Illinois, property division during divorce follows common law principles rather than community property rules. This means that while assets acquired during marriage are generally considered marital property, the division is based on equity, not a strict 50/50 split. A judge has discretion over how to distribute property.
Wedding rings are typically viewed as gifts to each spouse, which makes them non-marital property under Illinois law. According to 750 ILCS 5/503, gifts are not included in the property division during divorce. Therefore, you may have a strong argument for claiming both wedding rings as your own since you purchased them.
In contrast, engagement rings are usually returned to the giver if the engagement is broken. The law is less clear if the man breaks off the engagement.
For specific legal advice, consider consulting with a family law attorney.
This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.