Im getting divorced & want to purchase property with settlement funds from an auto accident. Is this property considered marital property?

Dear Anonymous: It really depends on the terms of your personal injury settlement. Did your spouse sign off on the settlement?  If a lawsuit was filed, was it filed in the name of both your spouse and you?  Did the settlement reference a "loss of consortium?" If the settlement statement was signed by both of you and your spouse was a party to the lawsuit, then most likely the proceeds would be considered marital property.  How much of the settlement is marital is another issue because, for example, if you had gone to trial a jury might have awarded you a certain amount for injuries, loss of income, etc., while awarding your spouse for the loss of your "services" "companionship, etc." Also, even if you were the only party who settled the case, if you comingled any of the settlement proceeds with other funds (i.e.  had the settlement money in a separate account, and then added any money to it) then you may have tainted the entire account and converted it to a marital asset. Bottom line:  absent a settlement that says: this is yours and this is your spouse's, and then you keep the funds totally separated, whether the car purchased with the settlement funds is non-marital is not a clear answer. A possible solution would be to have a postnuptial that expressly states the settlement proceeds or anything you do with them will remain non-marital.  However, a postnuptial requires full financial disclosure, should be done by an experienced family law attorney, and will cost to have it drafted. If you are planning to divorce, then I'd just hold off on the car purchase for now. Best of luck, Cindy S. Vova Law Offices of CIndy S. Vova, P.A. Broward/Miami- Dade: 954-316-3496 Boca Raton: 561-962-2785 www.vovalaw.com