Celebrity Docket: Some Speculation on Kanye West's Golden Wedding Ring Band
While it remains a relatively quiet week for any noteworthy or new juicy celebrity divorce developments, our Celebrity Docket legal team did catch an interesting tidbit on the Kim Kardashian and Kanye West divorce saga. Specifically, recent news sources, such as Entertainment Tonight (ET), reported that Kanye was last seen a few weeks ago at a photo shoot sporting his golden wedding ring band. While it is speculated that Kim and Kanye may have already sorted most of their property issues through a Prenuptial Agreement, which is a contract that the parties signed before they married, this recent Kanye ring sighting makes one wonder, what if the parties have not yet sorted the question of what happens to Kanye’s golden wedding ring band?
One can only imagine how expensive Kanye’s golden wedding ring is valued. It is probably safe to say that his wedding band is currently valued for more money than most people will make in their working career! If indeed the parties did not contemplate their respective wedding rings in their Prenuptial Agreement, the California court will likely need to decide on who keeps the wedding rings and then likely apportion a certain percentage of the value of the wedding ring to each party. In Virginia, wedding rings, which are given to the parties on the day of marriage, are generally considered marital property. If a wedding ring is classified as marital property, this means that the Virginia Courts can divide it. The process of dividing marital property is called equitable distribution in Virginia. For a more detailed framework of how equitable distribution works, visit our previous blog here. Once the court classifies the property as marital, the court then has to consider evidence on its value as of the date of the actual hearing, which, in Kanye’s case, would be valued at a pretty penny to say the least. After the valuation process, the court would then have to allocate a percentage of the value of the ring to both Kim and Kanye. Our legal team will stay tuned to see if Kanye’s wedding ring band becomes a contested issue down the road for the parties’ ongoing divorce!
If you are going through a divorce and have questions about property and equitable distribution, the experienced family law attorneys at Morris Williams LLC – A Family Law Firm are here to answer your questions and empower you to make the best decisions for your future. Call us today at 757-226-9425 to schedule a consultation or email us at firstname.lastname@example.org.