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Property division could be complicated by asset classification

Many individuals may feel as if they have been placed in unfair situations at some point in their lives. Some of those instances could be serious, and individuals could be negatively affected. As a result, they may find themselves wanting to work toward not being taken advantage of no matter what the circumstances. The most common case in which people may find themselves feeling more adamant to reach their goals is during property division and other divorce proceedings.

California residents may be interested in the case of a man who has faced a significant injustice in his life. Reports stated that the man had been convicted of a murder that he did not commit, and as a result, he spent 20 years in prison before he was exonerated. After his released, he pursued multiple lawsuits in hopes of gaining compensation, and he was subsequently awarded a $20 million settlement.

Now, the man is going through a divorce with a woman he met and married while still in prison. The settlement he received after his lawsuits is now up for debate as to whether it should be considered marital property. A court recently ruled that it should be classified as such, but the man's legal representation believes that since the settlement resulted from injustices against the man before he was married, it should be considered separate. It is likely that they will move forward in efforts to get the ruling overturned. 

Going through property division proceedings may be something that the majority of individuals dread. There is always the possibility that complications could arise and additional legal proceedings could be needed in order to straighten out the issues. If California residents would like assistance with their proceedings, they may wish to discuss their cases with experienced attorneys.

Source: Chicago Tribune, "$20 million settlement up for grabs in exonerated man's divorce", Tony Briscoe, Oct. 5, 2016

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