Is Workers Compensation marital property?
Is Workers Compensation marital property?
A worker’s compensation settlement is marital property in California if awarded to compensate a spouse for lost income during the marriage.
Is an insurance settlement marital property?
In the eyes of California law, personal injury settlements obtained during the course of a marriage are community property. Thus, a settlement is a marital asset that may be subject to equitable division during a divorce.
Can you get a cash settlement from workers comp?
The injured worker can ask for a single cash payment from the insurance company instead of payments for lifetime medical care. The cash payment is an estimate of future medical care. The injured worker is then responsible for his or her own medical care for the injury from the time of the settlement.
Are disability payments marital property?
SSDI and SSI benefits are awarded special protection from certain civil proceedings under the Social Security Act (“Act”). The Act states that disability benefits are not subject to “levy or attachment.” The majority of state courts have interpreted this to mean that SSDI benefits are not marital property.
Does disability count as income in a divorce?
When calculating alimony, SSDI payments are considered income, while SSI is not. VA disability benefits may not be considered when dividing marital property. In any case, VA benefits are considered income when determining support obligations.
Do I have to report my divorce to Social Security?
No, the Social Security Administration will not notify your ex-spouse that you are receiving the benefit.
Do I still have to pay half the mortgage?
Yes, your ex will have to pay half of the mortgage if they are listed on the mortgage as you will be both equally liable to the mortgage lender and in the case of the mortgage being defaulted then the mortgage lender will come after the both of you for the mortgage balance plus any costs.
What happens if one person stops paying the mortgage?
If you stop paying your mortgage repayments in full then your home could be repossessed by your mortgage lender. The other implications are that your credit score could be negatively affected that will have an impact on any future mortgage application, mobile phone contract or loan approval.
