What is the name of your state (only U.S. law)? TEXAS
My husband and I have been married only a short time (5 months) and are filing for divorce. My engagement ring is also my wedding ring. It is appraised @ 40K, however I left all furniture, etc with hiim. He owns two businesses and his house is valued at appx 275K. Can I keep the ring?
In general, the ring is yours to keep. It was a gift to you with the expectation that you'd marry him - which you did.
As for the rest, you are entitled to half of MARITAL property. Since you've only been married 5 months, it may be that the marital component is insignificant.
For example, if he owned the home and furniture before you were married, the home has probably not gone up in value given the current real estate market and the furniture would have declined in value (since furniture is generally valued at garage sale prices for divorce purposes). Therefore, you wouldn't be entitled to any portion of either of these items.
Same thing with the businesses. If the businesses were purchased before the marriage and no marital resources have gone into them, then you're not going to be entitled to any of them.
If, on the other hand, you bought the businesses with wedding gifts and you've both worked in them to increase their value stratospherically and they now have a great deal of value, then you'd be entitled to half. That doesn't seem likely in 5 months, though.