My husband is getting a settlement from a pharmisuitcal company. He is on S.S.D. He is not good with handling money,so he wants to sign the check over to me. I will than deposit to my account. MY question is this, This settlement was granted to him becuase he almost died from medication. This money if i deposit into my account,will this be taxed? Should i have him deposit it into his own account or our joint account?

excon

Hello jevan:

I don't believe insurance settlements are taxable. But if they are, it doesn't matter where it's deposited. Whoever owes it, owes it no matter where it's deposited.

excon