Q: I will be filing for divorce in a couple of weeks. When should we separate our finances?
Our separation date on form is March 2024
A: Unfortunately, it is impossible to provide you any guidance. You have determine your separation date was in March and you will be filing for divorce next week. That's not much to go on. You both have an obligation to protect your property and disclose its whereabouts until everything is final. That's probably February at the earliest.
Lawyers, want to be a Justia Connect Pro too? Learn more ›
- California
- (916) 704-3009
- View Profile
- Answered
A:
Under California law, the date of separation is significant as it determines when earnings and debts are considered separate property. Since your separation date is set for March 2024, it's essential to begin separating your finances around this time to clearly distinguish between marital and individual assets and liabilities.
You should start by closing joint accounts and opening individual ones. This includes bank accounts, credit cards, and any other shared financial accounts. Make sure to notify your employer and update your direct deposit information to your new individual account.
Additionally, gather and document all financial records, including statements for joint and individual accounts, to provide a clear picture of your finances as of the separation date. This documentation will be crucial during the divorce proceedings to ensure an equitable division of assets and debts.
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.
