When doing financial spreadsheet putting down our assets how does one classify an engagement/wedding ring? What about gifts given on birthdays & holidays? What if I want to give engagement ring back? What about items brought into the marriage?Are those still listed? What if husband gave away some items to girlfriend or got rid of them even though in divorce complaint it said not to. What recourse do I have? Or how can I prove those items are still at the house?
Only marital property is considered on an equitable distribution spreadsheet/balance sheet. Generally, marital property are assets acquired during the marriage but not inheritances. Separate property is not considered in equitable distribution. Generally, separate property is property acquired before the date of marriage and after the date of separation, provided no marital funds were used to acquire property after the date of separation.
Engagement rings and wedding rings are not marital property in NC. You would not be given consideration if you were to give back your engagement ring.
Gifts given between spouses are presumed to be marital property unless it was stated in the conveyance that the gift was intended to be the recipient spouse’s separate property.
Gifts given from a third party are considered the separate property of the recipient spouse.
Property/items bought during the marriage is marital property and should be listed.
Any marital property that a spouse wrongfully disposed of is still counted in equitable distribution. For example, if Husband gave away a marital asset worth $5,000, then the value of that asset would still be listed on Husband’s column of the equitable distribution spreadsheet/balance sheet.
You can prove that certain items are still located in the house by taking a picture with a date/time stamp.
Anna Ayscue
Attorney with Rosen Law Firm Cary • Chapel Hill • Durham • Raleigh • Wake Forest
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