In Minnesota, generally the spouse who was given an engagement ring will be awarded the engagement ring as his/her non-marital property during a divorce. However, it is becoming more common for couples to “upgrade” the engagement ring later in the marriage, or to purchase expensive anniversary rings as gifts during the marriage.
Minnesota law deals with these upgrades and anniversary rings differently than the engagement ring. The engagement ring is considered a gift made in contemplation of marriage. Although the upgrades and anniversary rings are also gifts, they are made during the marriage and purchased with marital funds.
In the case of upgrading an engagement ring, the ring now has both “marital” and “non-marital” aspects. As such, Courts will generally consider the initial value of the ring to be “non-marital” property of the recipient, but the upgraded value is still considered marital property subject to division during a divorce.
Anniversary rings that are purchased during the marriage are considered marital property subject to division during a divorce. One exception to this rule may be in the case of a valid prenuptial or post-nuptial agreement—depending on the language in the agreement.
If you have any questions about how your upgraded ring or anniversary ring will be treated during a divorce, please call me today at 952-800-2025 or reach out via our online contact form to set up your free consultation.
