If you follow spouses-to-be on social media, you have probably seen at least one over-the-top marriage proposal. After all, likely because of social media, these proposals are becoming more common. If you are not flashy, you can make your proposal special by dropping to one knee and presenting your partner with an heirloom ring.
Even though divorce may be far from your mind now, your marriage may not turn out as you expect. Indeed, according to World Population Review, the divorce rate in the Lone Star State is more than 10%. Therefore, you should take steps to protect your heirloom ring in the event of a divorce.
Can you lose the ring?
When married couples divorce in Texas, they must divide everything they jointly own. This usually includes all assets acquired during the marriage. There is an exception for gifts, though. Specifically, the spouse who receives the gift can usually keep it.
Your engagement ring is a gift you make to your soon-to-be spouse, so you have some risk of losing it during a divorce. Still, some special rules may apply to your heirloom ring. If so, you may have a genuine argument for seeking its return to you.
How can you protect yourself?
Rather than hoping special rules will save your heirloom ring, you should consider negotiating a prenuptial agreement. With a prenup, you can expressly state your spouse must return your heirloom ring if your marriage ends in divorce. This approach does not rely on your spouse’s generosity or sense of fairness. It also does not depend on special provisions of state law.
Ultimately, rather than worrying about the possibility of forever losing your family’s heirloom ring, it probably makes sense to talk to a family lawyer about writing a legally valid prenuptial agreement.