Settlement Money - how is it divided in a divorce?

[Bamagal]

My dad started a lawsuit with a medical company 6 years ago. My dad died four years ago and the judge has finally reached a settlement which will be divided between my mom and my siblings and myself. I am about to file for divorce and I am wondering when I get this money if it will have to be divided with my spouse or if it is considered seperate property. And if it isnt considered seperate property can I "give" it to someone until my divorce is final.
Thanks for any help.

[Lee Borden]

This money sounds like separate property that wouldn't be divided with your spouse in a divorce even if you've already received it. The only it would be considered marital is if the award is intended to compensate you for your own loss of income, and I assume that's not the case.

The key is that when you receive it, you place it in an account in your name only, ideally created for this purpose, and that until the divorce is effective you don't make deposits to that account or withdrawals from that account for any purpose. If you do that, the money should be yours without any participation in it by your STBX.

Any attempt on your part to "give" the money to someone else will just make the money look more marital. Don't go there.

[Bamagal]

I am curious about the end of your message - when you said to open an account but not deposit or withdraw from it did you mean at all or if i do not to let him use it or know about it.

[livealittle]

He means (forgive me if I am out of line in saying this, Lee) when you get your settlement money, put it in an account and then forget it's there until after your divorce is final. 

don't touch it after that for any reason.  No additional deposits to the account after putting in your settlement money, no withdrawals at all from it until after your divorce is final.  Period.

[Lee Borden]

That's right. And there's no need to try to keep it secret. It's yours, and your STBX can't touch it in a divorce as long as you take the approach livealittle describes.