Sometimes life gives you a lot to handle. One of those times is when you have a personal injury claim and are also going through a divorce. The two issues are interconnected. Any settlement may be marital property. You may wonder what happens to your personal injury settlement money if received during your divorce proceedings.
The personal injury attorneys at Staver Accident Injury Lawyers, P.C, understand how divorce proceedings can impact your settlement. We can advise you on the effect of a personal injury settlement during your divorce. Our skilled attorneys will maximize your compensation and protect it from being diminished.
Whether your personal injury settlement could be part of marital assets subject to division in a divorce is a complicated question. It is dependent on several factors. Considerations include how the parties allocate damages and the timing of filing or settling the claim.
Here are five frequently asked questions about how divorce impacts a personal injury settlement:
Any money paid to you in settlement for injuries to your “person.” Your body is your property. Compensation for injuries, including pain and mental anguish, won’t be subject to division in your divorce if correctly designated.
Any part of the settlement that pays for damages to the marital property would be divided with your spouse.
Yes, any damages paid to you as reimbursement of lost wages is part of the assets a court will divide in your divorce.
Yes, the money paid to you for reimbursement of medical expenses is marital property. Marital assets likely paid those debts.
Even if your claim isn’t settled until after the divorce, your spouse still claims a portion of it if it is part of the marital assets. Part of the divorce process usually requires disclosing any possible claim settlements.
Few scenarios exist under which a spouse won’t receive part of your personal injury claim settlement. But knowing your rights and working with skilled personal injury attorneys like those at our firm can help you maximize your share. We understand the interplay between personal injury and divorce law.
While it is unlikely you can keep a personal injury settlement all to yourself during a divorce, there are ways to maximize your portion. To do so, you must work with an experienced personal injury attorney. At Staver Accident Injury Lawyers, P.C., we’ve worked with many clients who faced divorce during their personal injury claims. You can count on us to get the most compensation possible from your claim and construct the settlement favorably to you.