What are divorce rights for joint savings account?
If your married and open a joint savings account but then you divorce, how is the money shared? 50-50 basis? Or what you put in you get out? How does it work?
Marriage & Divorce - 14 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
Everything's worked out all together, your lawyer should be able to tell you
Answer 2 :
Consult your attorney. It will be factored into any split of assets. Unless you two agree to split it some way.
Answer 3 :
joint bank account and marriage? are you joking? did you want to end up on the streets or what? you are in a mess babe.
Answer 4 :
50-50 of the money but the other person could get the money out and keep it in cash before the divorce that way the money cannot be traced to any account
Answer 5 :
Its not what you put into it, because then the stay at home moms would be screwed. Its divided fairly and equally.
Answer 6 :
It depends. what is the reason for divorce? then you can stand your ground from there. is there any children involved. it should be a normal 50/50 if everything is straight forward. but if this account was set up before the marriage then who ever opened it will get the funds before the marriage date and the rest will be shared 50/50 depending on the grounds of divorce?
Answer 7 :
Yes 50/50 unless otherwise you or your estranged spouse decide differently. make sure to have the account frozen and start a new account.
Answer 8 :
All bank accounts are considered marital assets and are split 50/50. Unfortunately if you were the saver in your family you are going to loose on the deal and your soon to be former spouse will benefit from your good habits. Generally speaking you split was was earned or received by either during the marriage 50/50 including pensions and other retirement benefits. There is an exception for inheritance that people sometimes overlook. If you inherit cash or property it is not split.
Answer 9 :
First one to clean the money out gets it .Then you can pay to fight it in court. Even if you win the case you most likely won't see much of the money if any at all.
Answer 10 :
Either of you can withdraw the whole lot at any time as it is a joint account. Then you would need a solicitor to recover it, then probably 50%, if she/he earns more then it is more complicated . Two years worth of statements and all accounts single and joint will be taken into account, under the UK system. Check your regional laws to confirm for your state wherever you are.
Answer 11 :
All assets are divided 50/50. I would protect that money though and have the account frozen just in case your spouse decides to clean out the bank account.
Answer 12 :
The reality of divorce with a joint account..one party will empty the account out and leave the other party nothing..legally that can be done since it is in both of your names..bitterness and anger does that to people..be cautious..
Answer 13 :
50/ 50 sorry to say.
Answer 14 :
Normally 50/50. However if you are married and plan on getting a divorce, talk to your spouse and agree everything and anything BEFORE seeing a solicitor and going to court, otherwise the court will decide, not you...........and of course if it is joint you can do what my ex did and empty every joint account for himself!
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