Q: Am I entitled to 50% of our savings in a divorce?
Hello, I would appreciate some professional advice if possible. My spouse and I have been married for about 6 years and we are thinking about getting a divorce. Both of us work, but he makes significantly more money than me. We currently have a joint savings account and no debt. My husband also has additional assets (stocks and retirement). We do not own any property and do not have any children. The majority of the expenses have been his. My husband believes that all of the money we have saved over the years is his and says I will not get any of it. Am I entitled to 50% of our savings? Would it be legal for me to transfer that amount to a separate account? Or what would be the best way of handling this?
A: A joint savings account is presumably a marital asset and as such is divisible in a divorce proceeding. It does not matter who "made the money." That would apply only to money made during the marriage, probably not that which was in the account at time of marriage. The other questions are best handled by a consultation with a lawyer who can get into the facts of the case and help advise you more specifically. Our best to you.
1 user found this answer helpful
Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.
The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.
Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.