Can you withdraw money from a joint account before filing for divorce?

Family Law

Richard

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Based on your situation, there are several legal considerations and concepts in divorce law that could potentially support your case.

Joint Accounts: in many jurisdictions, funds in a joint account are considered marital property, which means both parties have equal rights to the funds. However, withdrawing a significant amount before filing for divorce could be viewed negatively by the court, especially if it appears to be an attempt to deprive the other party of their share (this general marital-property principle is reflected in most states' equitable distribution or community property statutes, which govern how jointly held funds are classified and divided.
Unpaid Taxes: since you filed separately, you may not be directly liable for your spouse's unpaid taxes. However, the IRS can still pursue joint assets, including joint accounts, to satisfy tax debts. It's crucial to understand how these debts might affect the division of assets during the divorce. Relevant federal authority includes the IRS's general lien and levy powers under (26 U.S.C. § 6321) and (26 U.S.C. § 6331), as well as the innocent spouse relief provisions, which can protect a spouse who filed separately (or, in some cases, jointly) from liability for the other spouse's tax debt.

Let me know if you have any questions or clarifications, if not I'll move forward with guidance.

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It is a divorce question. Can I take part of the money in a joint account before I file for divorce?

Lexi, Chatbot

I understand that navigating financial matters during a divorce can be stressful. Have you and your spouse already discussed the joint account and its funds?

No.

Lexi, Chatbot

Are there any specific concerns you have regarding the division of assets in your situation?

Yes, my spouse has not paid income taxes for 13 years. I filed separately, and I don't want the IRS coming after me for those unpaid taxes.

Lexi, Chatbot

Is there anything else the Family Lawyer should know before I connect you? Rest assured they'll be able to help with your divorce question.

No.

Richard

Hello. My name is Richard, and I have been a licensed attorney for over 25 years and hope to be of assistance. I understand you're dealing with a situation involving a joint account and concerns about your spouse's unpaid taxes. Could you tell me more about any specific concerns you have or steps you've taken so far? Just a note, this conversation does not create an attorney-client relationship. I can answer your questions for educational purposes only.

Have you and your spouse discussed or agreed on how to handle the joint account funds during the divorce process?

Richard

Based on your situation, there are several legal considerations and concepts in divorce law that could potentially support your case.

Joint Accounts: in many jurisdictions, funds in a joint account are considered marital property, which means both parties have equal rights to the funds. However, withdrawing a significant amount before filing for divorce could be viewed negatively by the court, especially if it appears to be an attempt to deprive the other party of their share (this general marital-property principle is reflected in most states' equitable distribution or community property statutes, which govern how jointly held funds are classified and divided.
Unpaid Taxes: since you filed separately, you may not be directly liable for your spouse's unpaid taxes. However, the IRS can still pursue joint assets, including joint accounts, to satisfy tax debts. It's crucial to understand how these debts might affect the division of assets during the divorce. Relevant federal authority includes the IRS's general lien and levy powers under (26 U.S.C. § 6321) and (26 U.S.C. § 6331), as well as the innocent spouse relief provisions, which can protect a spouse who filed separately (or, in some cases, jointly) from liability for the other spouse's tax debt.

Let me know if you have any questions or clarifications, if not I'll move forward with guidance.

Richard

76,546 satisfied customers

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