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Can I Empty My Bank Account Before a Divorce?

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Removing Money From a Joint Bank Account

You may think half of the money in your bank account is yours, but in the state of Florida, when going through a divorce, there's something called equitable distribution. Clearing out a bank account that you share with your spouse without letting them know is a big problem. Here's why.

Taking Funds From a Joint Account Could Land You in Hot Water

The courts don't take kindly to removing money from a joint account without the other spouse's consent when in the middle of a divorce. In Florida, a standing administrative order is binding for both parties and forbids both parties from dissipating and concealing assets such as bank accounts. When someone takes all the money out of a joint account, it could land you in contempt of court and violation of this order.

Dividing Assets Fairly

When it comes to bank accounts and other assets, Florida uses equitable distribution. Equitable distribution does not mean that bank accounts, properties, and other assets are split equally down the middle. It means that assets are distributed fairly, and many factors are taken into account when the courts determine who gets what. When you have questions about dividing assets, having an experienced attorney in your corner to guide you through the process can make all the difference.

Need Help With a Florida Divorce? Contact Owenby Law, P.A.

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