Is my spouse entitled to my personal injury settlement in NYS?

Is my spouse entitled to my personal injury settlement in NYS?

Special New York Statute Handles Personal Injury Proceeds By virtue of a special statute, N.Y. Dom. Law \xa7 236 B (1)(d), compensation for personal injuries received during the course of a marriage are deemed to be the separate property of the injured spouse.Jan 9, 2017

Is a personal injury settlement considered an asset?

filing for divorce online

Courts have included personal injury settlements as marital assets in cases where the settlement primarily covers lost wages, funds are put in a joint account and used to pay household expenses or the settlement is meant to pay for damage to marital property.

Is my spouse entitled to my Personal Injury Settlement California?

However, California Family Code § 2603(b) states that “community estate personal injury damages” are entitled to the injured spouse. But if the personal injury settlement is the only asset the couple owns, then the non-injured spouse may not receive anything in return.

How can I get the most out of a divorce financially?

Don’t Let Emotions Lead Your Financial Decisions. Everything Is Divisible and Fair Game. Make Big Purchase Before Filing for Divorce. Keep Track of Your Spouse’s Money. Gather Key Evidence Before Filing for a Divorce. Get Property Valued Before You Part Ways. Don’t Hide Assets. A Former Spouse Can Be a Great Tax Shield.Weitere Einträge…•