I am often asked as a Saratoga Divorce Lawyer if you should open your own bank account when filing for divorce. If you have filed for divorce or your spouse has and you are both still living in the same residence and still sharing bills and making the bill payments as you had before, it may still be a good idea for you to open your own bank account. The reason for that is any income that you earn after the date on which the action for divorce is commenced is considered your separate property. I advise clients as a Saratoga Divorce Lawyer that if you put all of that money into the joint bank account, you may be making a gift to your spouse of a portion or all of those paycheck funds. If you open your own bank account and deposit your paycheck into that account and just take out the money that you need for the bills, any excess money in your own bank account will remain your separate property when the divorce is finalized.
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This informational blog post was provided by Jean Mahserjian, an experienced Saratoga Divorce Lawyer.
