Asset Division When Engaged MNThe division of property after a breakup or divorce is tough no matter when it happens. Both individuals have strong opinions about who should end up with what, and often this is not the same way a court would decide. If a marriage ends, there are some legal guidelines to follow regarding division of assets, but what about when there is an engagement but no marriage? If an engagement is called off before the marriage, the first thought may be who keeps the ring, but if the couple is already living together and sharing expenses and bills, how are all of the other assets distributed?

Who Actually Gets the Ring?

The short answer is that this is actually quite simple. If you break up before you get married, the ring actually belongs to the individual who purchased and gave the ring. And, this premise holds true for property and other assets. Generally speaking, the partner who owns the property remains the owner of the property after an engagement breaks up, even if the other person has provided financial support. This can get more complicated, of course, particularly in long engagements when property is sold and years of financial intermingling is at play. If you feel strongly that the court needs to intervene and help determine exactly how the property will be divided, you may want to first consult a family law attorney for advice.

Kallemeyn & Kallemeyn: Legal Support And More

Kallemeyn & Kallemeyn has more than 20 years helping clients manage the most difficult and complex of legal problems. We will listen to you and carefully explain the legal process as it relates to your unique situation and help you come up with a plan to solve your problems. If you and your partner have decided to go separate ways (after an engagement or a marriage) our team can help you sort through all of the legal issues surrounding the division of assets, child custody, child support and can even provide mediation services, which can be extremely effective in all types of family law cases.

Our team at Kallemeyn & Kallemeyn will sit down with and come up with a strategy to help you move forward with your life. We will be very open about the cost of our services and other fees involved in what we think it will take to resolve your situation. You will have all the information you need to make an informed decision. Call us at 763-427-5131 today for more information.