Legal Question in Family Law in Arizona
My spouse & I are currenly separated pending a potential divorce. He is having financial troubles & has asked me for monetary loans until his injury lawsuit has finalized, which should be in the next couple of months. I am willing to help him out somewhat as long as I am paid back as I am in no position to support two households.
Knowing that I am probably not entitiled to any of his injury settlement, is there any legal document that can be drawn up to ensure that I receive payment back when this case settles? If not, how should this loan be handled to protect myself just in case things turn sour?
2 Answers from Attorneys
Without question don't do anything without having something official in writing. Your biggest issue is that if he is having financial troubles, and if he files for bankruptcy, you will be a creditor and won't see your money. In addition, it iwll stop your divorce in its tracks until the BK is over. As for his injury settlement, you are likely entitled to 1/2 of any reimbursements for funds used by the community to pay for medical bills as well as 1/2 of lost wages. You might want to consult a lawyer and make sure you understand your rights moving forward.
Yes, you should have a promisorry note which assures payment from the personal injury proceeds.
We can certainly help you consider and then pursue your options.
One of our attorneys can explain the issues and procedures better in person. As you can imagine, there is too much to cover via email. We offer free 1/2 hour consultations, in which we can discuss your matter in detail.
Please call us directly to discuss the specifics of your matter, or contact my assistant Gina or my paralegal Jennifer to schedule your free 1/2 hour consultation.
/s/ Rich J. Peters
R.J. Peters & Assoc., P.C.
1422 North 2nd Street, Suite 100
Phoenix, Arizona 85004
602-254-7251
facsimile 602-254-1229
see our website at www.familylawaz.com
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