From its first discovery gold has symbolized wealth and power. Egyptian jewelry is some of the oldest golden jewelry in existence today, though gold didn’t become commonplace until Rome began to flourish. Gifts of gold are tokens of love and souvenirs of precious moments. It is a warm and beautiful metal and that’s why its demand grows about 20 percent every year.
In relationships, we demonstrate our awesome love and deep devotion with gifts of gold. The ultimate symbols of devotion are that of the engagement and wedding ring. Unfortunately, not all relationships have happy endings. When things turn sour, some partners feel entitled to those gifts while others wonder who rightfully lays claim to them?
In terms of divorce, the law is pretty clear cut. It’s 50/50. Engagement is where the line blurs. Most states in the U.S. consider the engagement ring an implied conditional gift. That means it’s a gift given on the condition that a marriage takes place. In some states the ring must be returned to the partner who purchased and gifted the ring, regardless of the circumstances of the breakup. In other states the partner in receipt of the engagement ring may keep the ring if it is the ring donor who breaks off the engagement. It’s very important to check which way your state leans in the even of a broken engagement. While you may feel entitled to the ring due to the circumstance of the breakup, the courts could force you to return the ring to your ex, or worse. If you’ve disposed of the ring, you could be forced to pay your ex the cost of a replacement. This is not a time to rub salt in the wound.
The good news is, the law is clearer on jewelry that is not engagement related. Anything your ex gave you as a gift that you accepted outright is no longer fair game. It is yours and you may do with it what you will. Relationship experts will tell you, it’s better to get those reminders out of the house and fast.
Was your ex a generous partner? If your bedside table is littered with gold trinkets, consider getting cash for your gold. ABC News recently reported that the price of gold was up 20 percent since the beginning of 2011. The hottest trends these days are selling your gold online and at gold parties. Perhaps you have some broken hearted chums looking to pool monies for a healing cruise? The Better Business Bureau offers some tips on selling your gold.
If you’re looking to make the best of a bad situation, check out a few of these gold and diamond resources and then jump into a bit of this new reverse retail therapy.
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