$ question in divorce

iVillage Member
Registered: 01-04-2002
$ question in divorce
8
Mon, 07-10-2006 - 7:39pm
My husband & me talked about divorce & he doesnt want to but I do. There have been many issues in the marriage. I have one question I need advice on. If we were to divorce he seems to think he can get half of my $ in my bank account. Mind you we have separate accounts & mine is in our daughters name & shes under 18. Does he have any rights to my account even though its not a joint account ?
iVillage Member
Registered: 07-21-2004
Mon, 07-10-2006 - 9:57pm
it is my understanding (at least in NJ) that you are supposed to split the marital assets - that includes all bank accounts 50-50. In NJ we had to fill out a disclosure form that listed all of our accounts, pensions, insurances, stocks, bonds, etc. I would also say that it will not look good to the court if it appears that you were attempting to hide assets by using your children's name on the account.
iVillage Member
Registered: 06-13-2004
Mon, 07-10-2006 - 10:48pm

like the other poster said,you will have to fill out an interrogatory(sp) and tell all of your savings account,checking account etc,any type of accounts that was acquired during your marriage,CD,stocks, bonds, what you owe on loans, everything and anything,and when you fill out this paper work it is done with the understanding you are being truthful ,if the court finds out you are not declaring everything or hiding assets you will be in a poop load of trouble.


even if you have account that are in your name only ,when it comes down to splitting up the assets,,it does not matter,anything acquired during the marriage gets split up during a divorce.


I live in Pa and have been going thru my D for

iVillage Member
Registered: 01-04-2002
Tue, 07-11-2006 - 6:30am
The $ I have saved up came from my pocket. It's my hard earned $ I saved on my own. He didn't contribute to any of it. He shouldnt have any rights to it. I began saving $ because we don't have a solid marriage. I live in NY state I'm not sure how it works here.
iVillage Member
Registered: 06-05-2006
Tue, 07-11-2006 - 7:05am
My sister is going through a divorce here in Michigan and he is entitled to half of everything.
I plan on divorcing my huband later this year so I have been taking half of my tip money from waitressing and putting the cash in my safe deposit because I have no record of it on a paycheck.
When he asks me what I made that day in tips, I just say "oh, only 50$" type thing
iVillage Member
Registered: 11-25-2003
Tue, 07-11-2006 - 8:08am

It depends on the state.

If your daughter was (a) emapcipated at the time of the money transfer, and you (b) gifted the money to her (per IRS rules), then its hers, AND the money shows up ys taxes on it. If you take the money back, she needs to gift it to you, and it ought to show up on your taxes.

If your daughter is not emancipated, then your stbx has equal rights to the money in her account, as she is under 18.

In any event, the financial games will usually backfire on you. I would strongly caution you against such measures. Even if it works, you expose yourself to the real possibility that you have committed tax fraud.

If you can prove, with a legitimate paper trail, that the money was yours prior to the marriage, then its yours and yours alone. If the money was acquired after the marriage, it belongs to both of you.

Please be careful.

iVillage Member
Registered: 01-04-2002
Tue, 07-11-2006 - 3:00pm
I'm also thinking of putting my $ in a safety deposit box. I could also close my account then he wont be able to get anything from it. I think he is after my $ out of spite to get back at me for wanting a divorce. The good thing is we don't have any credit cards or loans. We don't own any property.


Edited 7/11/2006 3:07 pm ET by jen0212001
iVillage Member
Registered: 07-21-2004
Wed, 07-12-2006 - 9:01am
If you have already filed for divorce, he is entitled to 50% of it. Closing the bank account will not help and could cause you many problems with the courts. Courts tend to frown on people trying to hide assets. He could ask for a motion to freeze all your assets and you could have to pay the court costs for that. As one of the other posters stated in most states you have to prepare an interrogatory as of the date of the filing for divorce. The interrogatory is a legal document and to lie on it is a crime. This is why so many people take time to hide their assets prior to filing for divorce, still not legal. I know it is frustrating if you are the one working or at least saving and being frugal and then you still have to hand over 50% but that is generally the way it works.
iVillage Member
Registered: 01-04-2002
Wed, 07-12-2006 - 7:45pm
I didn't file for divorce yet.