How to Safeguard Your Structured Settlement from Your Divorce

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Structured Settlement

What transpires to your cash from a personal injury reward or settlement, when you break up? The short reply is, “It hangs on.” It hangs on to whether you live in a public property state or justifiable distribution state. It is determined by on how the cash was allotted in the reward or settlement. It also depends on the date of the injury, the date of your divorce or the date of your break up. Overall, how the cash is split up depends on how the court in your state will approach the study based upon the exact details of your situation.

Assume, a Husband and Wife have been married for seven years and have two young children. Wife underwent a significant stay in diagnosis of her breast cancer, when her mammography studies were misread by a doctor. By the time she lastly was diagnosed, the cancer had raised throughout her body. So she was required to take a leave of absence from her work to take chemotherapy and radiation cures.

Throughout this time, Wife was incapable to care for herself or her family. Her Husband was trying to grasp down his job and support his family. Husband and Wife phoned an accident attorney concerning a medical malpractice case. A lawsuit was filed against the doctor, who misread the mammography study. The claim contained damages to the Wife, in addition to a loss of consortium claim for the Husband. Throughout the pendency of the lawsuit, Husband and Wife wanted to divorce. Problem: What occurs to any profits picked up from the lawsuit?

There are a few number of different methods to distinguishing personal injury structured settlement or prizes as marital versus non-marital possessions. These methods are also deliberated in the context of whether the divorcing pair be inherent in either a community property state (for example California) or impartial distribution state (for instance Florida or New York.)

Some courts, have taken a more logical approach by straightening out each and every component of a specific damage, and measuring whether it should fall into a non-marital or marital asset class.

This thorough method gives significant weight to justice of the division of property. Lastly, some courts take a more naïve approach to the difficulty, believing any personal injury outcome or settlement as a marital asset if attained during the marriage, irrespective of the type of the damages.

 

By: Jessica Willman

10 Comments
  1. Tony Johnson

    July 3, 2014 at 9:20 pm

    You should contact your local department to learn about the appropriate next steps. In many cases, that may involve simply adding your statement to the accident report.Contact a medical malpractice attorney near you if you have specific questions about a malpractice claim or require legal assistance. Visit FindLaw’s Medical Malpractice Legal Help section to learn more about working with an attorney.

  2. O'neil Fisher

    July 4, 2014 at 3:35 pm

    If you have just suffered an injury or injuries, make sure you get prompt medical attention. Also, in order to build a strong case in court, you should take detailed notes about the incident, take pictures, and get the contact information of potential witnesses. See First Steps in a Personal Injury Claim for more information.

  3. Veronica

    July 5, 2014 at 1:12 am

    Damages is a term that refers to the monetary compensation the plaintiff is claiming the defendant is liable for. These damages are intended to make the injured party “whole,” according to legal theory. In some cases, the plaintiff may seek punitive damages on top of compensatory damages to punish the defendant for particularly unconscionable acts.

  4. Patrica Zane

    July 6, 2014 at 12:26 am

    Some of the most serious non-fatal ATV injury problems include traumatic brain injury (TBI), permanent concussions, neurologic injuries, spinal cord injuries, neck injuries, fractures and dislocations, in addition to chest and abdominal injuries. TBI can occur when an ATV rider hits his or her head in an accident, crash, or rollover. Often, the person involved in the crash may not even appear to be injured.

  5. Robert Puerto

    July 7, 2014 at 7:44 pm

    There are many ways to find a qualified car accident lawyer. Referrals from friends and family or online may be a good start. However, not all attorney referral services are the same and unless you have unlimited hours to spend asking for referrals, you may wish to find a car accident lawyer in your area using one of several quality-assured lawyer directories, such as FindLaw, devoted to connecting you to an experienced lawyer.

    • STRUCTURED SETTLEMENTS

      August 10, 2015 at 12:20 am

      Yes, but it will be much harder to get a good one.

  6. Randy Robson

    July 8, 2014 at 11:52 pm

    If you’ve been involved in a car accident, you may need to hire a car accident lawyer. A good car accident lawyer can help you recover losses resulting from a motor vehicle accident and/or reduce the hefty amount of paperwork, “red tape”, and hassle often associated with car accident insurance claims. Knowing when to contact or hire a car accident lawyer can make the difference between a justly resolved case and owing or losing large monetary damages.

  7. Danny K.

    July 9, 2014 at 2:00 pm

    In addition to providing leverage during discussions on central issues such as fault for an accident, police reports can contain the identifying information of anyone who might have witnessed the incident, or who arrived on the scene soon afterward.

    • STRUCTURED SETTLEMENTS

      August 10, 2015 at 12:18 am

      Leverages can be nasty issues, be careful.

  8. Sharold Peter

    July 11, 2014 at 3:13 am

    It is best to hire a car accident lawyer early to avoid any costly mistakes. The deadline for filing personal injury claims varies from state to state. Because you may need to pay for medical bills and/or cover lost wages, the sooner you contact an attorney the better. In general, a person should contact an attorney shortly after the accident occurs — within a week or two of the accident — but before reaching a settlement with the insurance company.

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