If you have finalized your divorce or in the process of doing so you may be wondering what to do with the valuable piece of jewelry that symbolizes your relationship with your spouse. Once you have declared that you are separating, you probably lost the desire to wear that wedding band or engagement ring. The ring shows that you are involved in a marriage, and may even deter potential partners who would assume that you were still married if they saw your bejeweled finger. So what do you do with this often-expensive piece of jewelry post-divorce?

In most family courts, the wedding ring is considered separate property rather than community property. This means that the ring won’t be included in the property division. This is because it was a gift from one spouse to another. While a husband may have purchased an expensive Tiffany ring for his wife, when he handed it to her on their engagement day he essentially relinquished his claims to it. This means that you own the wedding ring you received regardless of whether or not your marriage has ended. If you break off your marriage before it is ever confirmed and separate from a future-spouse when you are engaged, you may be legally obligated to give the ring back. The courts will often declare that the spouse is the sole owner of his or her ring after the marriage ceremony has concluded and the marriage has been consummated.

Most courts will favor the recipient over the giver no matter what the conditions are. For example, if the ring has been in your family for years, and you divorce from a wife who wants to keep the ring, the court will typically allow her to keep it. The recipient can keep the ring no matter what the length of the marriage was or how expensive it was. Some states that practice community property rulings will count rings as individual property and claim that they still qualify for equitable distribution. This means that engagement and wedding rings will generally default to the recipient, but the value may be balanced out with other assets. In some cases, the courts will look at which spouse has a higher earning potential. If the spouse who gave the ring has a higher potential then the recipient spouse will get a higher percentage or marital assets. The rings may be thrown into that percentage.

If your spouse gave you an heirloom ring that has been in his family for generations, you will probably be able to keep it after the divorce. If this is a very difficult issue for your spouse, then he may ask you to return it. While you are not obligated to do so, it is merely a matter of choice. You will not be barred from giving the ring back by the court, but you will also not be compelled to give it back because it was a gift. If you have legal ownership of a ring, you have the right to sell it for profit in order to cover attorney’s fees or debts incurred in divorce.

You also have the right to repurpose the ring by taking out the diamonds and rearranging them or placing them in another piece of jewelry. Many people will repurpose a ring and then wear it on their third finger rather than their middle finger after a divorce. If you are dealing with a legal battle over the rings in your divorce, then talk to a family lawyer for more information. With the right divorce attorney on your side, you can sort through all aspects of your property division and defend your rights.