[IN] Can I move our income to a separate account and control spending if my spouse is mismanaging marital funds?

IN Family Law

Liz

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Without any agreements, you could create your own account to preserve your funds as well. If you maintain all of the bills you've always paid, keeping money for yourself doesn't harm anything. It's perfectly legal, but you cannot remove her from a joint account without her consent. (IN Code § 32-17-11-18)

If it comes to divorce, in Indiana, any income earned during the marriage is generally considered marital property, regardless of whose name is on the account. This means that even if your wife is depositing her earnings into a separate account, those funds may still be considered part of the marital estate. (IN Code § 31-15-7-4)

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If my wife is keeping her own money in her own account and is preventing access or refusing to add it to our joint account, or if she can’t responsibly control the spending of our money, am I allowed to open my own account to set up my direct deposit and move all of our money to this new account and only give her money when she needs to make purchases? I would argue this is for the safety of our family if she is trying to withhold money or spend it without consulting me. I work a full-time job, and she is a stay-at-home mom. The money she is keeping in her own account is from a garage sale or a side job.

Lexi, Chatbot

I understand that this situation can be quite stressful for you. Have you and your wife discussed your concerns about the finances together?

Yes.

Lexi, Chatbot

Are there any existing agreements or arrangements regarding how you both manage your finances?

She has demanded that I share all financial details with her, yet she is not sharing details herself and is keeping money in a separate account I don't have access to.

Lexi, Chatbot

Is there anything else the lawyer should know before I connect you? Rest assured they'll be able to help with your financial access issue.

No.

Liz

Hi there! My name is Liz, and I’ve been an attorney for more than a decade. I’m here to assist with your legal concerns.

So I can best help, was all of the money in the joint account provided by you?

Yes. Any money she makes, she has recently been putting into her own separate account.

Liz

Thank you for sharing that. Can I ask, in what state do you live?

Indiana.

Liz

Got it, thanks! Have you and your wife ever had any formal agreements or discussions about how to manage your finances, like a prenuptial agreement or anything similar?

No.

Liz

Thanks for letting me know. Would you still pay bills you've been paying?

Yes. Also, would I have any way of removing her from the joint account? It's a checking account. She has made things more difficult, and I'm afraid she is planning to take matters into her own hands by withholding things from me.

Liz

Are you considering divorce?

She has threatened divorce.

Liz

Liz

I hope I was able to help with your situation! If you have any other questions, feel free to ask.

Liz

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