Who keeps the rings on divorce?

The origin of wedding rings can be traced back to Ancient Egypt, where they were first fashioned out of reeds and placed on the fourth finger of the left hand, through which it was believed ran the Vena Amoris (vein of love) which carried a flow of blood straight to the heart. While this anatomical myth has since been debunked by modern medicine, the tradition has otherwise endured, albeit with rings of much greater value.

In divorce proceedings, when this union is no longer, it is often the monetary rather than sentimental value of the ring that comes to the fore, and the more expensive the ring, the greater bearing it will have on the overall financial settlement. This concerns, in particular, engagement rings, which set back the UK an average of £1865 per hopeful fiancée, according to a survey conducted by a Hatton Garden jewellers. For HNW and UNHW individuals, these figures can even enter the tens, or even hundreds, of thousands of pounds.

Allocation of the rings on divorce

As such, the ownership of engagement rings in the event of relationship breakdown is a sufficiently contentious issue to require a specific provision in The Law Reform (Miscellaneous Provisions) Act 1970.

This provision states that engagement rings are to be “presumed to be an absolute gift”. This means that should the marriage not take place, the party who has received the ring is generally not obliged to return it. However, such a provision operates as a presumption, which can therefore be rebutted by proof of an agreement that the ring ought to be returned on a certain condition.

In the same vein, the consideration of an engagement ring as a gift entails that it is not, generally, considered marital property to be divisible when it comes to divorce proceedings. This, again, is incumbent on the existence of a conditioned agreement stating otherwise - one which may be contained within a signed pre-nuptial agreement. Pre-nuptial agreements will be found binding where signed with the full and informed consent of both parties. Such may be the case in instances where the engagement ring regards a family heirloom, the gifting of which is not always considered absolute.

However, where there is no written agreement in place, engagement rings (as well as other jewellery) can form a point of contention, as evidenced in 2016 when Angelina Jolie and Brad Pitt made headlines with their bitter, and no doubt costly, battle over Angelina’s jewellery collection, which included her $250,000 engagement ring. In such instances, all chattels (including the ring) over £500 ought to be declared, towards which the courts will take a dispassionate view of any sentiment attached to these.

This is dealt with via completion of Form E, a detailed financial statement requiring full and frank disclosure of each party’s assets, including personal ones. Pieces of jewellery that are worth more than £500 need to be itemised, and a current valuation provided. This includes engagement rings , for which no specific provision governing their fate currently exists. The value of these pieces will then be taken into consideration by the Court when reaching their decision on a fair financial settlement for both parties. Where they have significant value, consideration of the rings will be more likely, as they may form one of the parties’ main financial resources. Further detail on the financial proceedings on divorce and division of assets can be found here.

Protecting your assets

Pre–nuptial agreements can be a very effective method of avoiding costly and bitter disputes on divorce, and of protecting assets that are particularly valuable to you, whether this value is sentimental or financial.