Call 914-368-7580 now to schedule a 20-minute Case Assessment or full 50-minute Case Strategy Consultation!
Call Today 914-368-7580

I have money in the bank - what do I do?

Some parties have money in bank accounts or assets in a portfolio and are now contemplating a divorce. How should they proceed?

Be mindful of the Automatic Orders
First, New York has Automatic Orders which go into place upon the filing of a divorce. Thus, you cannot generally transfer or extinguish funds in a joint account after the filing unless your spouse consents. Money in the bank may be accessed for "usual & customary expenses," which generally entails household bills. If you're contemplating a divorce, it may behoove you to consult a Divorce Attorney now regarding what funds you can & cannot transfer.

Separate v. Marital
Generally funds or assets one accrues prior to the marriage are one's "separate property." This means your spouse cannot generally claim a right to such funds. However, the initial burden on proving funds or assets are separate is on the holder of those funds or assets. As such, you're best advised to start gathering the back statements which prove what funds or assets you held on the date of your marriage.

No Comments

Leave a comment
Comment Information
Email Us For A Response

Get Legal Guidance To Support Your Future

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy

Contact The Law Offices Of David Bliven

White Plains Office
19 Court Street
Suite 206
White Plains, NY 10601

Phone: 914-368-7580
Fax: 914-206-3687
Map & Directions

Bronx Office
3190 Riverdale Avenue
Suite 1
Bronx, NY 10463

Phone: 914-368-7580
Fax: 914-206-3687
Map & Directions