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.
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