Divorce and Joint bank Account?
I have a question, I am living in Chicago, I and my wife put all money in our joint account, she is money minded and handle all withdraw autopay, including all transactions, she even shout on me if I spend my money to buy burger, I never bother to look at the bank account.
Question is if we get divorced can I tell my bank to freeze account (after I freeze joint account can she unfreeze and take all money?) and tell the judge to share 50-50 (i don't want her peny)
(or is there any way that I can tell bank like we only withdraw money if we both are available in the bank)
- MaxiLv 78 months agoFavourite answer
If you advise the bank of a pending divorce they will freeze the account which means neither of you can use it........ so set yourself up a new account first for your wages to go into informing your work place of new account details, set up bill paying from that acount and the best way is to discuss this with your wife agree to close the account and each have a separate account spliting the money from the joint account and closing it before you start any divorce proceedings
- RichardLv 78 months ago
A joint account means that either of you can do whatever you want with the account. However, if you are involved in divorce procedures, she might be able to sue you for removing money from the account.
PS: How will you survive on your own if you don't know how to handle money or write in decent English?
- JudyLv 78 months ago
No, with a joint account you can't freeze it from the other account holder, and you can't tell the judge how to split it. But you can take the money out.
- Beverly SLv 78 months ago
Joint account cannot be frozen by only one of you. The bank can't legally do this.
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- EvaLv 78 months ago
Joint owners have equal rights to the account. One party cannot freeze it. You don't tell the judge anything; he tells you. Either person can take all or any portion of the funds in the account. The bank will not restrict access.
- babyboomer1001Lv 78 months ago
Freezing the account will prevent both of you from using the account, until it is unfrozen, and that may affect your/your wife's ability to pay the bills. Courts divide property/assets differently, depending on the laws of the state. Most of the time, assets, etc. are divided 50/50 but that can vary.
- Casey YLv 78 months ago
You cannot freeze the account, but just before giving her the papers, you can withdraw half without facing any problems.
Ultimately, speak with your divorce attorney about how to handle those funds.
- TavyLv 78 months ago
No you can't freeze the account, half of it is hers. The bank won't deprive her of her money.
- A.J.Lv 78 months ago
Either party has access to 100% of the money in the joint account. Often, when an unfriendly divorce is coming, one of the two withdraws all the money and sets up an individual account with it. Then, it gets sorted out in court.
- KellyLv 78 months ago
During divorce this will be a court decision.
However those expenses which are auto paid still need to be paid. Freezing the account means that doesn't happen.
Either of you could withdraw money but since you're married depending on laws in your state and the ultimate divorce settlement it's likely whomever did that would have to pay back half of it.