Are proceeds of a personal injury claim considered a family asset?
British Columbia, Canada
The following excerpt is from K.L.K. v. E.J.G.K., 2010 BCSC 1437 (CanLII):
The defendant appears to concede that the proceeds are a family asset. As he notes in his written submissions, personal injury awards are generally not considered to be family assets since they represent compensation for pain, suffering, loss of amenities of life and future care, all of which are personal to the injured person (Drean v. Drean, [1997] B.C.J. No. 737 (S.C.)). They may change their character over time, however, and if used for family purposes, may properly be characterized as family assets (Witges v. Witges, [1998] B.C.J. No. 3130 (S.C.)). I find that the proceeds do constitute a family asset. The more challenging issue is reapportionment.
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