It’s no secret that divorce can often bring out the worst in people, as the mix of hurt feelings and finances can make for less-than-ideal situations. As such, you may find yourself unsure where to turn, especially if you make the discovery that your spouse has emptied your joint bank account. This can leave you with considerable financial stress. If this reflects your circumstances, you’ll want to keep reading, as the following blog explores what you should know about your rights in these matters and the importance of working with Somerset County property distribution attorneys to discuss your legal options in further detail.
What Do I Do if My Spouse Emptied Our Joint Account?
If you are filing for divorce or were just recently served, you understand that this process can be incredibly complicated. However, these matters can be made worse when you find that the joint account you own with your spouse has been completely depleted of funds, if not entirely closed.
As such, the first thing you should do if you discover a joint account is suddenly empty is to contact your attorney immediately. They can examine your circumstances and file an emergency motion with the court if need be. Next, you should collect evidence that shows when the withdrawal occurred, as well as the timing in relation to your divorce or separation.
It’s important to understand that during this period, you and your spouse can make changes to the account, such as moving a portion of the funds, closing the account, or stopping direct deposits. However, any decision you make should first be discussed with an attorney and properly documented to show that there is no abuse of funds occurring.
Can They Face Consequences in Court?
It’s important to understand that, when your divorce is heard before a judge, the court may not look favorably upon your spouse for their actions, as the court may view this as fraud. Because the funds held in a joint account are considered joint assets during your divorce and their depletion of the account deprives you of the assets you are legally entitled to, the court will likely impose penalties for your spouse’s misuse of the funds.
One of the most common consequences is that the court can order your spouse to return the money to the account, even if it has already been spent. However, you may find that the court can also compensate you for the amount of money you would have received during the property distribution portion. This could come in a lump-sum payment, increased alimony payments, or a larger share of marital assets.
If you discover that your spouse has drained your bank account, it’s imperative to connect with an experienced attorney as soon as possible to explore your legal options. At the Siragusa Law Firm, our team understands how difficult these matters can be, which is why we are committed to helping you fight for the best possible outcome. When you need assistance, connect with us today to learn how our firm can represent you.