Law Offices of Indu Srivastav, APLC
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Get professional help for bank account divisions

When you are going through a divorce and have bank accounts, you will need to divide your marital funds. Whether or not your bank account is separate or marital property depends on a few factors that you'll have to consider.

First, you have to decide where the money comes from for the account. Is it from your job that is used to support your family? Even if this is a separate account, it's likely marital property. Are the funds from an inheritance that you've never used? This is probably separate property.

Second, remember that you're in a community property state. Any money that you have in a shared account is going to be evenly split between you and your spouse. Accounts you owned before marriage that have been funded by assets from the marriage are likely now marital assets and can be divided equally.

A third factor is how an asset or account is used. If you have a separate account that is only used to pay your own debts and needs, then the account might be separate. Once that account is commingled, it will likely lose that separate identity. The same is likely true if you give your spouse a debit card to your bank account to access funds, even if the account is not shared.

It can be complicated to determine if an asset or bank account is marital or separate property in some cases. The best thing to do is to talk to your attorney and discuss the factors that could influence the assets in your possession and determine if they are shared or separate for the purpose of the divorce.

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Law Offices of Indu Srivastav, APLC
1400 N. Harbor Blvd., Suite 601
Fullerton, CA 92835

Phone: 714-515-5008
Fax: 714-515-8338
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