Personal Injury Settlement Money in a Divorce, Things You Should Know
If you’re going through a divorce and have previously received a personal injury settlement, you’re probably wondering if you’ll lose some of it to your spouse. It’s a natural thing to be nervous about. Since you were injured, you may still be juggling doctor’s visits or physical therapy and needs those funds to pay for it. In this article, we’ll lay out the facts about personal injury settlements and divorce; when settlements are considered separate property or marital property, equitable distribution, and how the state of Georgia handles it. Can My Spouse Get My Personal Injury Settlement? Let’s begin with marital property vs. separate property: Marital vs. Separate Property – marital property is any assets acquired during the marriage by you or your spouse. Separate property is any asset owned by either of you before the marriage or inherited during the marriage. Personal injury settlements are typically considered separate property…