Question:

Are my separate checking and savings accounts a marital asset if I am the only one who has contributed to them?

My wife also has her own bank accounts that we have always kept separate so how are these divided in a divorce?

Answer:

I am unable to give you legal advice on divorce. I can give general divorce help for men, though, my knowledge is based on Kentucky divorce laws where I am licensed to practice.

Generally speaking, anything you acquire or earn between the date of marriage and date of separation (or some other date specified by state law), the state presumes is marital. This includes money you earn during marriage that ends up in your personal bank account.

The name on the account and whether you or your wife earned the money is irrelevant. What is relevant is if you earned the money within the specified time period, as set forth in state law.

Any money you earn and deposit into your checking account after separation (or the key date in your state) will generally not be marital property.

However, commingling funds in this way may complicate matters by making it difficult to tell which funds are marital and which are non-marital.

Remember, I am unable to provide you with anything more than divorce tips for men, so please consult with a divorce lawyer in your jurisdiction.

To arrange an initial consultation to discuss divorce rights for men with a Cordell & Cordell attorney, including Louisville Divorce Lawyer Jill A. Massey, contact Cordell & Cordell.