Will separate bank accounts save my money in a divorce?

By |2022-03-30T17:46:45+00:0027 Jun 2019|Categories: Divorce|

On behalf of The Law Offices of Dorie A. Rogers, APC posted in Divorce on Thursday, June 27, 2019.

If you live in California or a handful of other states, you may believe that having separate bank accounts when you are married is a way to protect yourself during a divorce. This is not always the case and believing so could set you up to lose a lot of money during your divorce.

According to some divorce attorneys, separate accounts that contain money acquired after you and your soon-to-be ex were married will be considered marital or community property.

One way to protect yourself financially in a divorce is to sign a prenuptial agreement before you get married. This legal document can stipulate who gets what in a divorce and as long as it is drawn up correctly, it will be valid in divorce court. Another benefit of having a prenup is that it forces you and your partner to talk about financial matters before you say, “I do.”

Another way that you might be able to keep some of the money you had before you married is to print off a copy of your accounts the day before the wedding and keep it in a safe place. This can be used to show the court the money you had before you married. If you receive an inheritance during your marriage, you should keep this money completely separate from any marital assets. This includes not spending it on things that you and your spouse needed or wanted during your marriage.

Because the division of assets can be so complex during a divorce, it’s best to have legal guidance. An Orange County divorce attorney can advise you on what will be considered community property and what will be separate property.

About the Author:

Dorie Anne Rogers - The Law Offices of Dorie A. Rogers, APC
Dorie A. Rogers, a Family Law Specialist, Certified by the State Bar of California, has been an attorney since 1981 with an exclusive family law practice located in Orange County. She is accepting dissolution cases with support and property issues including the use of forensics to ascertain business value, community interests and to establish monthly case flow analysis. Ms. Rogers has substantial experience in high conflict custody litigation involving sophisticated psychological issues. She drafts premarital and postmarital agreement designed to define and establish parties' separate and community property interests. Paternity cases and domestic violence matters are considered part of her practice. Ms. Rogers is a court-approved and court-appointed to represent minor children.Ms. Rogers consults with individuals concerned about entering or exiting a relationship. She advises effective strategies for dissolution or premarital planning. Knowledge is power and good planning affords better results.Specialties: Family Law Specialist, Certified by the State Bar of California
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