Are Separate Bank Accounts Considered A Marital Asset?

divorce lawyer Jill MasseyQuestion:

Are my separate checking and savings accounts a marital asset if I am the only one who has contributed to them?

My wife also has her own bank accounts that we have always kept separate so how are these divided in a divorce?

Answer:

I am unable to give you legal advice on divorce. I can give general divorce help for men, though, my knowledge is based on Kentucky divorce laws where I am licensed to practice.

Generally speaking, anything you acquire or earn between the date of marriage and date of separation (or some other date specified by state law), the state presumes is marital. This includes money you earn during marriage that ends up in your personal bank account.

The name on the account and whether you or your wife earned the money is irrelevant. What is relevant is if you earned the money within the specified time period, as set forth in state law.

Any money you earn and deposit into your checking account after separation (or the key date in your state) will generally not be marital property.

However, commingling funds in this way may complicate matters by making it difficult to tell which funds are marital and which are non-marital.

Divorce Resources:

State Property Laws

Remember, I am unable to provide you with anything more than divorce tips for men, so please consult with a divorce lawyer in your jurisdiction.

To arrange an initial consultation to discuss divorce rights for men with a Cordell & Cordell attorney, including Louisville Divorce Lawyer Jill A. Massey, contact Cordell & Cordell.

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2 comments on “Are Separate Bank Accounts Considered A Marital Asset?

    I Want To Go With My Dad !
    i Want To Live With my dad i live in new mexico with my mom but my dad lives in greeley colorado with my dad my dad takes better care of me , me and my mom argue everyday and she tells me to go with my dad , she goes out alot she leaves me home alone can you please help me . Please and thank you

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