Should You Withdraw Money From a Joint Bank Account During a Divorce?

You may have heard horror stories about a friend or a friend of a friend, whose spouse suddenly cleaned out a bank account without warning, leaving them high and dry. Scary? Yes! Is it a reason to panic and think that you should do it first? No! If you are contemplating divorce, this is another reason to consult with a divorce attorney. Contact the lawyers from In Law We Trust, P.A. for practical guidance, as well as legal advice about how to handle finances during divorce within the boundaries of the law.

It’s Not as Simple as You Would Think

While it may seem perfectly within your rights to withdraw funds that are in your name, and you also may be in the situation where you are contributing most, if not all of the funds for the account, it is viewed very differently in the eyes of the law. Removing funds from any of your accounts, particularly when your spouse relies upon your income, can be considered abusive behavior. In Florida, where courts tend to rule in favor of wives and mothers, this type of action can work against you, as the husband, in the divorce process. Your behavior may very well be viewed in a negative light and seen as exploitative of your wife’s vulnerability.

Protect Yourself

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If you are worried that your spouse might withdraw large amounts of money or go on a spending spree with your joint bank account, there are ways to protect yourself. A lawyer from In Law We Trust, P.A. can discuss arranging an Automatic Temporary Restraining Order (ATRO) for you, and explain how that would work as far as limiting the amount that can be removed by either spouse. No matter whose name any of your accounts are under, do not clear them out or make any significant withdrawals, without consulting your attorney first.

Legal Counsel Regarding Finances

We understand that handling finances during a divorce is very complex and stressful. By seeking legal counsel from In Law We Trust, P.A. for the proper guidance, not only will we help you maintain your financial stability, but our advice and sound legal strategies will provide you with peace of mind that you are doing the right things. Contact us today to help safeguard your finances!

Call The Family Law Experts Men Trust (813) 415-3510

In Law We Trust, P.A. is a premier firm of divorce lawyers representing men in family law proceedings. We are uniquely positioned to assist our clients with the challenges men face in Florida’s court system. Call us today and get the proper representation men need and deserve.



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