Salt Lake City, UT asked in Banking and Family Law for Utah

Q: Am I legally obligated to close savings accounts in my kids names on my bank account, that my ex has never been on

I opened these accounts for my kids, under my own account, without my ex ever being on said account, she's asking I close these out, give her the money, and give a list of when the accounts were opened, any transactions etc. We've been divorced since July, am I legally obligated to do this as she's never been on the account and has never contributed any money to these?

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1 Lawyer Answer
James L. Arrasmith
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  • Business Law Lawyer
  • Sacramento, CA

A: If the savings accounts were opened solely in your name and your children's names, and your ex-spouse was never a signatory on the account or made any contributions to the account, then she likely does not have any legal right to demand that you close the accounts and provide her with the money or information about the accounts.

However, if you have a court order or divorce settlement agreement that addresses the ownership and distribution of assets, including bank accounts, then you will need to follow those terms. It's possible that the court order or agreement requires you to close the accounts and provide your ex-spouse with a portion of the funds.

If there is no court order or agreement in place, and you have concerns about your ex-spouse's demands, you may want to consult with an attorney who can review the specific details of your case and advise you on your legal rights and obligations. They can also help you negotiate with your ex-spouse or represent you in court if necessary.

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