In Florida, the law recognizes certain items as premarital assets and in a divorce those items typically remain with the person that brought them in. Engagement rings are always a question for clients because one party paid for the ring and one has been wearing the ring, so to whom does it belong?
If you received an engagement ring but did not go through with the marriage, then the ring is normally returned. However, if you received the ring, went down the aisle and were married, then that ring now has a place with the wife regardless of payment being made by the husband. The ring is considered a premarital gift and it remains with the wife upon the dissolution of the marriage. The value of the ring, given that it is premarital, does not go into the pot of the value of the couple’s assets. Therefore, if the ring is worth $20,000 and was a family heirloom of the husband, as was the issue in a recent Florida case, the court must still find the ring as nonmarital property and will go to the Wife.