What to Do if My Spouse Emptied My Bank Account (2024)

FAQs

What to Do if My Spouse Emptied My Bank Account? ›

If you suspect your spouse is already taking money from the account or they have already withdrawn all the funds from your joint accounts, seek legal advice as soon as possible.

To ensure that this money is not dissipated and/or concealed, the best thing one can do is to speak with a divorce lawyer. By doing so, that spouse can file a motion of contempt and, in doing so, move forward with the divorce.

Many married couples have joint bank accounts. Each spouse has the right to make deposits into the account, and, each spouse has the right to withdraw from the account any amount up to the total balance.

When a married couple opens a joint account together, they both have equal access to funds without each other's consent. Regular bank accounts, on the other hand, are owned by one person who has complete control over the account. Only the account holder can authorize transactions to and from that account.

In Most States, Banks Do Not Let You Remove a Spouse Without Their Consent. The vast majority of banks do not allow account holders to remove a spouse from a joint checking account without their consent, though there are some exceptions, depending on your state and the nature of the account.

If your ex-partner takes money from your joint account or runs up debt on your joint credit card without your permission, you may be able to sue them in court. However, it can be difficult to win these cases. You should consult with an attorney to discuss your legal options.

Once hackers get access to your account, they can make fraudulent charges, open new accounts, and steal your sensitive information and identity. The scary part is that unless you act quickly, banks may not refund your money.

It is perfectly legal to take money out of joint bank account. If you get that money out before filing the Divorce, it is considered as mutually consented. Unfortunately, this money is hard to recover.

California is a community property state, which means that following the death of a spouse, the surviving spouse will have entitlement to one-half of the community property (i.e., property that was acquired over the course of the marriage, regardless of which spouse acquired it).

Equitable distribution

Typically, the court will award each spouse half of the money held in a joint account. Even if one of you decided to take the money out to spite the other (or to cover immediate expenses), that person would have to cough up 50% to make the other person whole.

What is financial infidelity in a marriage? ›

Financial infidelity occurs when one partner hides or misrepresents financial information from the other, such as keeping secret bank accounts or hiding purchases. It does not necessarily involve marital infidelity, though it can lead to divorce.

If a spouse is caught hiding assets, the court may require them to pay the spouse's share of the assets to them. For example, if $10,000 in marital assets were hidden, the judge may order the spouse who hid the assets to pay $5,000 to the other spouse.

Thus, you could empty the account without the other one's permission. However, anything you do that is out of the ordinary, such as depleting a bank account, will be scrutinized by the court particularly if it's done immediately before filing for divorce.

California Divides Joint Bank Accounts 50/50 in Most Divorces. California's property division law is different than in most other states. Rather than dividing assets and debts according to what is fair or equitable, the courts in California split everything down the middle.

Opening a separate account before the divorce is initiated can protect you from immediate financial harm if you suspect your spouse might drain your joint funds or lock you out of your account to retaliate.

Through the use of a valid Power of Attorney, an Agent can sign checks for the Principal, withdraw and deposit funds from the Principal's financial accounts, change or create beneficiary designations for financial assets, and perform many other financial transactions.

Account abuse is when a bank believes that a consumer has not complied with the terms of that account (e.g., unpaid overdrafts or unpaid fees). Fraud includes instances that the bank or credit union says were intentional consumer fraud (e.g., check fraud).

Withholding access to marital funds without cause may constitute financial abuse. This can be considered illegal, especially when used for control or punishment.