If it is a joint account, you both still have full access to the money. Which means either of you could technically wipe it out today if you wanted to. The two of you can decide how you want the money divided, do it yourselves and include it in your separation agreement (in NC a separation agreement will include Equitable Distribution, which applies to all physical property as well as financial assets). Keep a record of the account balance and activity until everything is signed on the dotted line. If the two of you cannot agree and end up in court, a judge will decide who gets how much.
Thank you so much for your response. I wasn’t sure how the assets were distributed and was worried if he took all the money out would I still be able to get my half of the money.
Dear need sanity:
Greetings. Money in joint accounts is typically marital and may be divided equally. Now, if one of the other marital assets is debt, and your husbands takes the debt, he may also take the marital funds. Without a complete review of the marital estate, there is no way for anyone to tell you what you will walk away with - money, property, or debt.
Now, you may be entitled to alimony, which is a different analysis then the property. Thank you.
Janet L. Fritts
Attorney with Rosen Divorce
4101 Lake Boone Trail, Suite 500
Raleigh, North Carolina 27607
919.787.6668 main phone
919.256.1665 direct fax
10925 David Taylor Drive, Suite 100
Charlotte, North Carolina 28262
704.644.2831 main voice
704.307.4595 main fax
The response posted above is based upon the limited factual information made available and is not intended as a full and complete response to the question. The only reliable manner to obtain complete and adequate legal advice is to consult with an attorney, fully explain your situation, and allow the attorney sufficient opportunity to research the applicable law and facts required to render an accurate opinion. The basic information provided above is intended as a public service but a full discussion with an attorney should be undertaken before taking any action.
Need assistance please!! I’m going to file separation papers in NC. How are the monies distributed in joint accounts??
Will the joint account money be split before, during, or after? I will need this in order to start my life over.
Spouse make 6 times as much as I do, and maintaining the house will be more for me than if I just rent a place.