Divorce and jewellery


Wedding jewellery is an emotional and sometimes high value investment in ones’ life and represent symbols of one’s love. Oops! but what happens with your engagement and wedding rings after divorce?

 

220px-Diana,_Princess_of_WalesPrincess Diana.

It is important to decide the worth of the engagement, wedding rings, jewellery gifts and watches because If the jewellery pieces has a high value compared to other assets it may make the overall  financial settlement difficult to do.

The UK legislation under  Section 3(2) of  the Law Reform (Miscellaneous Provisions) Act 1970 (2) states  that the gift of an engagement ring shall be presumed to be an absolute gift; this presumption may be rebutted by proving that the ring was given on the condition, express or implied, that it should be returned if the marriage did not take place for any reason. 

Katie Holmes got to  keep her jewellery following her divorce to Tom Cruise and Princess Diana kept her jewellery after divorce to Prince Charles.

There are some engagement rings considered  as family heirlooms  that family members pass down for generations. The husband’s family line might want the family heirloom back. However, this conception is hard to impose, as the word heirloom is not  defined in UK law.

fancy diamond

A  prenuptial agreement will help reduce disputes over heirlooms and jewellery etc, if the marriage ends.

 Resources

Jewellery Resource for valuation

  • Jewellery Designers from British Jewellery Association;
  • Goldsmiths company( http://www.thegoldsmiths.co.uk/) and
  • Hatton Gardens Jewellers.

Legal Advice

About Author

Nike Ademuyiwa, a member of the British Jeweller Association, is a jewellery expert with many years of experience in the jewellery industry. She is the creative director of Tink Jewellery a brand which tells people’s personal story either of love, life and style into the art of jewellery creation

 

 

 

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