Are Personal Injury Settlements Marital Property?

In Florida, the general rule is that any property acquired during a marriage is considered marital property and is subject to equitable distribution upon divorce. However, personal injury settlements may be treated differently depending on the specific circumstances.

In a Florida personal injury case, the injured spouse may recover economic or non-economic damages. Economic damages may include payment for past and future medical bills, as well as payment for past and future loss of income. Non-economic damages would include past and future pain and suffering, loss of enjoyment of life, disability, and disfigurement.

If the personal injury settlement is compensation for lost wages or medical bills incurred during the marriage, then it is considered marital property in Florida. However, if the settlement pertains to pain and suffering, emotional distress, or other non-economic damages, it may be considered separate property and therefore not subject to division in a divorce.

It’s important to note that Florida courts have broad discretion in determining how to classify and distribute property in a divorce, so the outcome may vary depending on the individual case. If you have specific questions about your personal injury settlement and how it may be treated in a divorce, please click here to send us a message or call us today at 941-345-1662 to schedule a consultation.