If you are in the unfortunate situation of getting divorced, then you may be wondering how to sort out your joint bank accounts. Whether the divorce is amicable or not, it is important that you both agree on how to split the monetary funds in your joint accounts so that you both get a fair deal. Here is some advice on how to handle joint bank accounts and the problem of divorce.
Freezing accounts
If you ware worried about funds in the account being removed, then you can get a freeze placed on the account which requires both parties to give permission before any money is removed. Although this may be a good temporary solution to avoid money being removed, it will obviously harm both of you if no money can be released. However, it is a good point to start from and ensures that the account remains untouched and there is motivation on both sides to solve the situation.
50/50 split
If the divorce is amicable and you feel that you are both of an equal financial standing, then the easiest way to sort out the problem of joint accounts is for one person to open a new account and deposit half of the money into that account. The other partner can then change...
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