Prenuptial agreements are often considered to affect only issues inside a marriage, but for many individuals, the risks begin well before wedding vows are given. If you have spent a significant amount of money on an engagement ring, you may want to make sure that you can reclaim the ring if the wedding never occurs. Every year, thousands of couples throughout the country choose to end engagements without marrying, often creating tensions about rings that may have cost thousands of dollars.
While common sense usually implies that a ring should be returned to the person who gave it, a broken engagement can be an extremely emotional time, and it is not always easy to make a rational choice. Even in circumstances where you believe that you will definitely get married, it is wise to get a simple written agreement that the party who received an engagement ring will return it in the event that the wedding is called off.
It is important to note that such an agreement should entail that the ring be returned regardless of why the engagement ends. It is very possible that the party who received the ring will end the engagement in anger, and wish to keep the ring as an act of revenge. This happens much more often than you might expect. With a written agreement, the matter can be settled simply, allowing the giver of the ring to reclaim the valuable property under contentious circumstances.
If you are considering any kind of prenuptial agreement, it is wise to consult with an experienced attorney who can help you craft a legally binding document that respects your unique relationship with the person you want to marry. A strong prenuptial agreement can protect both parties in a marriage and remove many areas of tension before they have the opportunity to ruin a marriage.
Source: Mondaq.com, “United States: Give Me the Ring Back! Written Promises Around Failed Engagements,” Drew York, March 16, 2017