John and Audrey have been married for twenty years. Throughout their marriage, John worked at ABCD Company, a corporation that manufactures sophisticated motorized vehicles for children. John was injured on the job in a production accident. ABCD subsequently let him go because he was missing too much work. Since the accident he has been staying in the marital home except for one week a year when they vacation at the cottage Audrey inherited from her parents five years ago. The stress from the accident has tested John and Audrey's marriage and they have decided to divorce. Which of the following assets is more likely to be considered marital property rather than separate property?

a. an award to John for personal injuries and pain and suffering resulting from his accident

b. the proceeds from a wrongful termination suit brought by John against ABCD

c. the vacation home

d. All of the above are likely to be considered marital assets.

Question

Kristian Dudley

Business

17 October, 06:08

John and Audrey have been married for twenty years. Throughout their marriage, John worked at ABCD Company, a corporation that manufactures sophisticated motorized vehicles for children. John was injured on the job in a production accident. ABCD subsequently let him go because he was missing too much work. Since the accident he has been staying in the marital home except for one week a year when they vacation at the cottage Audrey inherited from her parents five years ago. The stress from the accident has tested John and Audrey's marriage and they have decided to divorce. Which of the following assets is more likely to be considered marital property rather than separate property?

a. an award to John for personal injuries and pain and suffering resulting from his accident

b. the proceeds from a wrongful termination suit brought by John against ABCD

c. the vacation home

d. All of the above are likely to be considered marital assets.

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Answers (1)

Know the Answer?

Deangelo Horne · Answer 1

Assets more likely to be considered marital property rather than separate property are neither as

d. All of the above are likely to be considered marital assets.

Explanation:

The given list of property can rightfully be claimed by either of the partners as they were using it during the marriage. While the recompense given to Adam for his injury is his to use, he is unable to work anymore so this puts a strain on his own medial expenses which would be covered by his wife or the money he gets so that property can be covered.

Inherited property is usually considered the joint property of the couple depending on which state is being talked about here although it extremely unlikely in this particular case.