I won the Lottery, how will this affect my divorce? Written by: - TopicsExpress



          

I won the Lottery, how will this affect my divorce? Written by: Camy Schwam-Wilcox Esq. of Schwam-Wilcox & Associates Depending on the stage of your divorce (dissolution of marriage) action lottery winnings may or may not be considered marital property; however, non-marital property, meaning it is not subject to equitable distribution, does not mean that it is not considered “income” for purposes of calculating child support, alimony or the ability to pay for OR contribute towards the other spouses attorney fees and costs associated with the divorce action. Pre and Post nuptial agreements usually have a section about lottery winnings as well, so short of any agreement on how lottery winnings shall be distributed, or not distributed, if your case is over, there is a final judgment, the winnings themselves are not marital; therefore, you do not have to share them with your former spouse, but note that you are probably going to be served with a modification of some sort if there is a alimony or child support provision in your Final Judgment and parenting plan. If you win the lottery during the separation time of your case, there are more factors that need to be considered before one can determine if the winnings are marital or non-marital; however, the ability to use this “income” to determine child support, alimony and attorney fees will remain the same… the winnings count. The attorneys at Schwam-Wilcox & Associates can guide you through your dissolution action assisting you in determining what portion should be or should not be yours or what you have to pay. Additionally, it would be important to have some estate planning, trust or will advice to insure that your protecting your winnings properly. For more information you can e-mail us at info@cbswlaw, call us at 407-245-7700 or visit our website at cbswlaw
Posted on: Thu, 14 Aug 2014 16:37:45 +0000

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