بسم الله الرحمن الرحيم
In order to pay zakah the calculation of the property of both of you shall be made on separately. Hence first make it clear that who is the owner of jewelleries? And if both of you are owner of some quantity then it is necessary to fix the quantity that who owns how much. Likewise, you will have to know who owe debts and who owns the shares.
If the wife is the owner of the jewelleries then zakah shall be wajib on her and if you are the owner then explain the above mentioned point.
Allah knows Best!
Darul Uloom Deoband