If I’m in the process of getting a divorce, is it OK to open a seperate bank account or should I wait for the divorce to be finalized?

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If I’m in the process of getting a divorce, is it OK to open a seperate bank account or should I wait for the divorce to be finalized?

My wife already made one herself. We have been seperated for half a month.

Asked on December 17, 2012 under Family Law, California

Answers:

Cameron Norris, Esq. / Law Office of Gary W. Norris

Answered 8 years ago | Contributor

You should open up a separate account to protect yourself.  Any assets you had on the date of separation are most likely community property owned 50/50.  So, just keep in mind that if you move over funds that were in the joint account--you may have to reimburse her for some of those funds if they were community. 

I would strongly recommend consulting with a local family law/divorce attorney to ensure the best outcome and to make sure you protect yourself.

Best of luck.


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