Legal Question in Family Law in New Jersey
insurance money
my wife and I are separated and I am waiting for a large sum of money from an accident that I had so the insurance company is compensating me with a large sum. this accident happened when my wife and I were together, for a while she brought the bread home. Is she entitled to any of that money and how much? what if I get the money after we are divorced? we currently have two small children. if she fights me on this can she take more than half?
4 Answers from Attorneys
Re: insurance money
The simple answer is yes ,she is entitled to any monies acquired during the marriage. If you want further advise ,you may call my office @718-834-0087 to set up a consultation.
Re: insurance money
Damages that you receive for "pain and suffering" are not considered marital assets for equitable distribution purposes. However, any damages you receive for lost wages or medical expenses are distributable. It really doesn't matter when the money is received as I am sure your wife will make a claim for in interest in the proceeds from the claim during the divorce proceeding. If you would like to further discuss this matter, please feel free to contact my secretary, Debbie, at 856-795-6700 to schedule a consultation.
Re: insurance money
You must have the benefit of counsel in this matter. You should have a consultation with an attorney in his or her office immediately. As for your basis question, I would think that most of what you receive is not subject to equitable distribution because most of what you receive as compensation is for the lost of some bodily function and pain and suffering an serves only to replace that which you were born with and had prior to your marriage.
You should call my office at 800 273 7933 to discuss your legal problems and/or to make an appointment for a consultation. You can visit my website by clicking on www.garymooreattorneyatlaw.abn1.net/home.asp
Re: insurance money
This is a difficult situation. It sounds like the accident and your injuries contributed to the break-up of your marriage.
Your question is an easy one to discuss. Compensation for injuries and your pain is a personal asset and not a part of the marital estate. That accrues to you personally and will not be divided between you. On the other hand, medical expenses, loss of earnings, and marital relations is a part of the marital estate and you will be asked to share that with your wife.
There are many ways to handle this problem. I would recommend allocating the marital estate part of the settlement for the care and education of the children through the negotiation. that will likely make it easier for both of you to agree on this issue.
This will be a difficult negotiation and, in my experience, probably not be agreed upon by you and your wife, but rather decided by the judge. You are welcome to a consultation for no fee at my offices at 42 West 44th Street, NY,NY. Please call for an appointment first. (646)591-5786 or (718) 729-2029