Weird ???

[Armmick9]

Today my husband and I are meeting with a lawyer for the first time. We are pretty certain we are going to file. My question is, has anyone out there ever been forced to give back their wedding ring, if it was valued more then $1,000?? I don't care if I have to give up anything else, but I really don't want to have to give that up...I am worried. Thanks!

[Minnymouth]

You are allowed so much expense regarding jewelry and collectible items. More than likely you will be okay......

If your wedding rings are worth $$$$$$$$, then it may be a whole new ballgame.

HHM or Todd might be able to answer this question and your attorney you consult with surely can.

They didn't bother any of my jewelry and I had mine and my mothers......

Let us know what they tell you,

Minny

[Whittio]

I just looked at my exemption lists for California, and first off, you have to remember, it's MARKET VALUE for your items. So not what you paid for it. My mom once took all her jewelry to a jeweler to get cash toward a ring, and thousands and thousands of dollars worth of jewelry, she only got $400 for.

Anyway, I don't know why, (since I am VERY new at this) but California has two schedules you have to choose from. I assume you pick the one that best protects your stuff. But one of them exempts jewelry up to $1225 and the other list is "jewelry, heirlooms & art" up to $6075.

I don't think you have anything to worry about. Of course, my opinion is only based on a weeks worth of reading.

[herekitty]

It's still a good opinion. I'm with Whittio on this, as my lawyer put it, how much could you get at a garage sale for it? What about EBay? I know it's not jewlery, but my dad gave me a $2500 laptop for graduation that I was afraid to list because I need it for work - it's only a couple months old but after a little EBay search I could only get $500 for it.

I'd say unless it's a Kolbe or JLo ring, you should be pretty good. But as always, ask your attorney if you have one!

[edwards2]

I have nice jewelry too but our lawyer never mentioned anything about it being a problem. Like the rest of you I am sure I wouldnt get much for it either. I wouldnt worry about it.

[Miyamoto]

Anyway, I don't know why, (since I am VERY new at this) but California has two schedules you have to choose from. I assume you pick the one that best protects your stuff. But one of them exempts jewelry up to $1225 and the other list is "jewelry, heirlooms & art" up to $6075.

CA is probably like WI where I am at and some other states where you can choose between the state exemptions and the federal exemptions. Not all states offer the choice and require one or the other. Basically that is just how it works, you pick the set that best works for your specific situation. I'm not even sure which set I ended up with. I had looked over both before I even decided to file and both seemed like they would work, though fed was better for protecting at least one category for me so I think I probabaly ended up with that. I probably overvalued that category quite a bit though as I was told to use garage sale prices and the only way to get that much most likely would be ebay or getting lucky with a knowledgeable and interested buyer at the garage sale.