Legal Question in Family Law in New Jersey
Regarding Settlements Received During our Marriage
I am thinking about getting divorced from my wife due to a verbally abusive and sometimes physically abusive relationship towards me. During our marriage my wife was in a car accident were she received a huge settlement in the hundreds of thousands of dollars. Will this money be subject to division? She has this money in several bank accounts that I don�t have access to. Since she has a large amount of money and has a good job is it likely there will be any alimony?
1 Answer from Attorneys
Re: Regarding Settlements Received During our Marriage
Compensation received for pain and suffering and loss of bodily function is not income. It is not taxable and not subject to equitable distribution in a divorce. She had her body before she married you and the compensation merely returns to her in money form that which she lost in terms of bodily injury.
All of her assets are taken into account in determining whether she receives alimony. Alimony is permanent after ten years of marriage and is supposed to be in an amount which will allow her to live in the life style to which she became
accustomed during the marriage. If she already has enough money to maintain herself accordingly there is no alimony for her. Alsol, whether she works or not any income that she is able to earn due to her education/training/experience is imputed to her.
You should speak to an attorney for more complete information.
Gary Moore, Esquire
Hackensack, New Jersey
www.garymooreattorneyatlaw.com
800 273 7933
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