QUESTION
Will a pending personal/work compensation lawsuit be personal property or a community property?
Asked on Oct 17th, 2012 on Divorce - Florida
More details to this question:
I might be coming into a lot of money after I get married and I am concerned about the security of my settlement money. I want it to remain personal property and not community property. Normally I would not get a prenuptial agreement because I have no assets or money. The prenuptial agreement is close to $2000. If this reward will be personal property due to my injury then I do not need a prenuptial agreement. If it will be community property, I will take out $2000 on my credit card and pay for the prenuptial agreement. Too often, I have seen people change when money is involved and I don't want my partner blowing all my money. I want to be able to share what I want to share and I pray that his changing doesn't happen. It isn't in his character but I want to protect myself. You never know.
12 ANSWERS
Cohabitation Agreements Attorney serving Cincinnati, OH
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Cathy R. Cook, Attorney at Law
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If all of the money being paid to you is for premarital expenses, wage loss, or pain and suffering is for before you get married, it is all premarital. As long as you keep the money either separate or traceable, it will remain your separate property after the marriage. If any of the money paid is for medical bills or lost wages incurred after the marriage, those payments are marital, unless you do a prenup excluding them. The money paid for pain and suffering is solely your non-marital property.
Answered on Oct 23rd, 2012 at 3:32 PM
Personal Injury Attorney serving Pacific, MO
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Melvin G. Franke
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If you receive it after the marriage, it will be marital property.
Answered on Oct 23rd, 2012 at 3:31 PM
Michael Paul Vollandt
Generally these kinds of law suites are separate property if all of the acts and damages were done before marriage.
Answered on Oct 19th, 2012 at 12:58 PM
Probate Law Attorney serving Colorado Springs, CO
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John E. Kirchner
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Money that you receive and have before marriage is considered your separate property, subject to your exclusive control and ownership, as long as you keep it separate from any property you and your partner acquire after the marriage. How that property, and any increased value during the marriage, will dealt with in a divorce will depend on the law of the state where that divorce would occur unless there is a valid prenuptial agreement.
Answered on Oct 19th, 2012 at 12:57 PM
Generally settlements of that type are considered separate property they can be considered, however, in making support awards if the settlement will involve a regular monthly payment or be large enough to generate income on a regular basis.
Answered on Oct 19th, 2012 at 12:55 PM
Tamara Marie Chin
It will be separate property if the funds are from your personal injury claim. However, the funds must be kept separate from any community funds to prevent changing the character of the funds to community property.
Answered on Oct 19th, 2012 at 12:43 PM
Dennis P. Mikko
Your best protection would be through a pre-nuptial agreement. Then there can be no question as to the ownership of the property. Otherwise, since the claim arose before your marriage, it can be considered your property with some exceptions. One exception would be if you co-mingled the property into the marital estate. Another problem could arise if at the time of divorce, your wife had insufficient assets to support herself.
Answered on Oct 19th, 2012 at 12:29 PM
William C. Gosnell
In Tennessee it's not marital property because it arose prior to marriage. But put the money into a separate account. If you co-mingle the money in a joint account then it's marital property. You should get a prenuptial agreement.
Answered on Oct 19th, 2012 at 11:52 AM
Divorce & Separation Attorney serving Menasha, WI
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Petit & Dommershausen, S.C.
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Be safe get the prenup. Normally it would be individual property but if you use it for marital purposes or commingle it or are married a long time, there are many ways it can change classification, it is MUCH safer to get a good prenup done.
Answered on Oct 19th, 2012 at 11:47 AM
Alternative Dispute Resolution Attorney serving Coral Gables, FL
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Robert J. Merlin, P.A.
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Basically, your award will be a non-marital asset under Florida law because it resulted from an incident that took place before you were married. However, if you get divorced, you can expect that your wife will claim that the money is marital. At the least, it would be helpful for her to acknowledge that your money is not marital. I recommend that you have a Pre-nuptial Agreement but if you choose not to, at least keep the money in an account in your name alone.
Answered on Oct 18th, 2012 at 9:24 PM
Divorce/Family Law Attorney serving Carlsbad, CA
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Anne B. Howard, A Professional Law Corporation
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The money would probably be your separate property as the claim was prior to marriage. However I'd do the prenup to make sure.
Answered on Oct 18th, 2012 at 9:17 PM
Criminal Defense Attorney serving Deltona, FL
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R. Jason de Groot, P.A.
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Florida is not a community property state. It is an equitable distribution state, and as long as you keep the monies in an account with your name only, it will not become marital property.
Answered on Oct 18th, 2012 at 9:14 PM