One of the things that is divided during a divorce is a shared bank account. If you’re ready to divorce, one of the things you may want to do is to move your share out of the account. Why? If you don’t, your partner could end up taking everything.
Since the account is shared, there is no way to guarantee that the other party won’t remove the money and take it for themselves. Similarly, you could do the same. The right idea is to take what would be considered a fair share instead of “cleaning out” the bank account.
What should you do to protect yourself at the beginning of a divorce?
Protecting yourself financially begins with separating your bank accounts. You should take what is yours, half in California, and place it in your own bank account. Make sure your spouse does not have access to the new account.
After you do this, you might think it looks spiteful. However, the reality is that it helps you protect yourself. There is no way to guarantee that your spouse wouldn’t have taken everything or that you wouldn’t have found more taken out than your spouse was entitled to.
Another thing to do right away is to close shared credit card accounts. Don’t let your spouse run debts up in your name. If they do, then you have no other option than to pay them back if your spouse refuses to pay the bill. It’s a hard pill to swallow, so it’s better if you take the time to close any mutual accounts at the start of a divorce.
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