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What Are My Options if I Think My Soon-To-Be Ex-Spouse May Withdraw from Our Joint Account?

Hi Hindell,

My spouse and I are in the early stages of divorce, and I’m afraid my spouse will withdraw from our joint account.  What should I do? 

Sincerely,

Deciding in Dorcester

In most cases, depending on the facts and circumstances a joint account is a marital asset which will be divided equally, even if you each contributed different amounts.   If you fear that your spouse will withdraw marital assets from a joint account, you can consider several options.  First, after considering what amounts might automatically be withdrawn from the joint account, you could withdraw 50% of the funds yourself, leaving your spouse the other 50%.   Second, you could stop depositing into the joint account and open a separate account for your earnings.  Third, you could mutually agree to account for all expenses, and divide the balance.  

Best wishes,

Hindell Grossman

Hindell has successfully negotiated, litigated and arbitrated hundreds of cases on behalf of her clients. Several of her successes have been published in Massachusetts Lawyer's Weekly and she has been featured in the Needham Tab, Boston Business Journal and the Boston Globe.
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