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If you suspect your spouse is already taking money from the account or they have already withdrawn all the funds from your joint accounts, seek legal advice as soon as possible.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

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.

Being legally married means your spouse's income (and debt) are now yours. If one of you runs up a huge credit card bill, you are both on the hook when the bill comes due. The good news is that many couples can cooperate and work together to address financial issues early in their marriage.

Each account owner can get a debit card, write checks and make purchases. Both account holders can also add funds or withdraw them from the account. The money in joint accounts belongs to both owners. Either person can withdraw or spend the money at will — even if they weren't the one to deposit the funds.

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

Can I sue my husband for hiding money from me? ›

A spouse may be charged with contempt of court and face fines and jail time. The court may require that the spouse who hid assets pay the legal and court costs of the other spouse and/or award all hidden assets or more marital assets to the other spouse.

Legally speaking, there is nothing wrong with having a separate bank account. You aren't required to keep joint accounts or file joint tax returns. You aren't even required to legally tell your spouse about your secret account, that is, until divorce proceedings start.

If a bank account has no joint owner or designated beneficiary, it will likely have to go through probate court. Joint accounts would not necessarily go through the same probate process.

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.

Each person on the account has the legal authority to use the entire account balance for any reason. In contrast, a person holding a power of attorney also has access to the grantor's bank account, but he or she is legally required to use those funds for the benefit of the grantor.

Your bank should refund any money stolen from you as a result of fraud and identity theft. They should do this as soon as possible - ideally by the end of the next working day after you report the problem.

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).