Going through a personal injury lawsuit can be incredibly stressful, as a personal injury lawyer, can explain. It may be even worse if you are going through a divorce at the same time. How can you protect your settlement from your spouse? Will your settlement be divided? In some cases, you may have to share some of your settlement with your spouse. Here are three tips for how to protect your settlement from your partner when you’re going through a divorce.
Specify What Your Damages Are For
When you file a lawsuit, you have to know how much your case is worth. There are specific formulas that insurance agents and attorneys use to decide the amount a client deserves. The settlement will include any compensatory damages like hospital bills, future bills, lost wages and damages. Also, it is possible that you could deserve pain and suffering costs. Lost wages and loss of earning capacity are separate property.
Deposit Your Settlement in an Individual Bank Account
Do not deposit your settlement into your joint bank account with your spouse. If you do this, then the settlement may appear to be a part of your marital assets. If you do not deposit it into your bank account, then your spouse could use that against you. It is simpler when you have your account for the deposit.
Consult With Your Lawyer About the Divorce
If you know that there may be a divorce in your future when you start your injury claim, then you need to bring it up to your lawyer as soon as possible. He or she will be able to guide you on the steps to protect your settlement from your soon-to-be ex-spouse. Your lawyer will be able to inform you how much your spouse may be able to claim. After all, if your spouse paid any part of your medical bills or helped to support you while you were injured, he or she could make demands when it comes to the settlement.
Whenever you are dealing with a personal injury settlement, you should discuss all of your options with a lawyer. When you file a claim, you want to have the best chance at a fair settlement. If you’re in the middle of a divorce, you may worry about your spouse receiving more of your funds. To find out how to handle your settlement while going through a divorce, contact a personal injury lawyer for a consultation.