bank accounts

[rosegdrose]

Hey Socra,

quick question.

I am going through divorce/custody. And I have to update my financial affidavit. However, I currently have 2 savings accounts that I didn't have before, with good amounts of money in them. I am afraid that if I list those as items owned; that it will have to be shared with xhubby. That money is money that I have saved, meticiously, since our serparation. That I worked hard to do and I don't think I should have to split it with xhubby.

Is there a way to list the money without it being a marital assest, thus needing to be divided. I think that when xhubby sees my affidavit, he'll want half of that money.

Thoughts. Suggestions.
Thanks

[williaer]

Although I can understand where you are coming from...as Justin Timberlake says "what goes around, goes around, goes around, comes all the way back around"...often when you hide things- ....things are hidden from you.

Just be careful.

[HelpingHands]

Soc's not here anymore :(

My thought would be to show that these were opened AFTER your seperation with your OWN money(no contribution from him) and be able to provide proof of that. And he's probably doing the same thing or maybe he's stuffing his under his mattress so as to not have to share with you.

I don't know if there's any way around it, because if you fail to disclose everything you may end up criminally in trouble for falsely swearing on the affidavit.

Not an atty...just my thoughts on it.

[MixedBag]

I would tend to agree that IF you can show or prove that this money was accumulated AFTER the marital separation, then it shouldn't be considered marital dividable property.

Soc's not around anymore...

And no other attorney has stepped in to help this board.

[wysiwyg]

This is one that is really sticky and needs an legal answer from an attorney.  All laws are diff in each state, and here and when DH went thru his divorce, the judge divided the home and the bank accounts from the date of seperation, but didved the ira's and retirements accounts etc from the date of divorce which was 2 years later.  I would go have an attorney give you an answer and have the proof that you saved this from the date of seperation so you can show that this was done with out participation from the STBX.

[mistoffolees]

Everyone else's comments are correct - or at least would be in my state which is the only one I'm really familiar with. My attorney says that we're a pretty typical state so there's a chance the same rules would apply to you.

1. If the accounts were opened and filled after the divorce, you may not need to report them (however, if ANY of the money came out of marital accounts, you will need to report these accounts).

2. If the accounts were open before the divorce filing OR if any of the money came out of marital accounts, you will need to report them. That doesn't mean that you'll necessarily lose the money, but it needs to be reported. In our case, they consider several things in determining whether the accounts should be considered a marital asset:
- Did you have that money before the marriage?
- Did you keep the money segregated during the marriage?
- Even if the money was added during the marriage was it set aside for a particular purpose that the OP would not have any vested interest in?

From your description, it sounds like case #1 applies and you shouldn't have to share the money - even if you report it. You should probably talk with your lawyer to be sure.

[rosegdrose]

Thanks guys. One of the accounts is our tax refund and we already divide that by 50%, so that one is safe. I went ahead and asked my lawyer's assistant about the other one. I told her that I can provide proof that I opened the account after our separation, so hopefully, I'll be ok with that one too. My intent was never to hide it, but I just don't feel like he is entitled to half of that when I, meticously and frugally, saved to build that emergency account for me and the children.

Thanks so much

...I didn't realize Socs not here anymore...