Some of the marriage and engagement related stories that seem to show up on the news with some frequency involve rings, and more specifically, the issue of who the ring belongs to.
The general rule is that an engagement ring is given in expectation that the engagement will turn into a marriage. Typically, if the engagement is broken off, that ring belongs to the person who gave it. Women who receive an engagement ring should, under the laws of most states including Idaho, give that ring back. If the woman sells or “loses” the ring (say, she throws the ring into the Snake River) she’s responsible for reimbursing the value of the ring to her ex-fiance.
There are exceptions to this; notably, if the woman can prove that the ring was given for a reason other than the engagement. For example, if the man texts her and tells her that the engagement ring is a “parting gift,” she may be able to keep it even if he later changes his mind. This scenario is one where attorneys may need to get involved.
Of course, once a couple is married, that scenario changes. The engagement has turned into a marriage, and the ring now belongs entirely to the person who received it. In fact, because it was a gift to that individual, the ring is considered separate property, and the value of that ring will not be divided if the couple later divorces. So, if a couple has $40,000 of assets earned during the marriage, plus his $60 wedding band and her $40,000 engagement ring, in a divorce he’ll get half of the $40,000 of community property assets and his $60 wedding band, and she’ll get half of the $40,000 community property and her $40,000 engagement ring.