Just so you don’t kick a gift horse in the mouth: any item of jewelry that your husband gives you during the marriage (not your engagement ring) is marital property. What does that mean? It means if you get a divorce, you don’t get to keep it. You either have to sell it to give him his share, or the amount you get at the end of the proceeding is reduced for about half the value of the diamond bauble. That is what the case Ciaffone v. Ciaffone essentially says.