FINANCIAL ISSUES - MARITAL PROPERTY V. SEPARATE PROPERTY
Hi, I live in NYS. My wife and I have been married for 23 years and we started legal separation proceeding in the past month (Nov 14th). We use the same credit cards, checking account etc. If after Nov 14th she goes out and purchases items (computer, shoes), takes excessive money out of the bank account, may I responsible for 50% of these costs? These items are not needed for home etc.Answer:
If you have already commenced legal proceedings for separation in court, I strongly recommend that you terminate all joint accounts, be they bank accounts, credit accounts or any other accounts where you have financial exposure.
Cancel all accounts upon which you are jointly liable.
Divide up the monies in the bank accounts and checking accounts and open SEPARATE banking accounts and credit accounts for each of you.
You do not want to have to come home one day and discover that your bank account has been emptied or your credit card is showing an unusually large charge made by your spouse for which you are personally liable. An ounce of prevention is worth a pound of cure.
This should be done immediately.
If you living in the New York City metropolitan area, I strongly suggest you call me at 212-370-1660
to arrange for a meeting to discuss mediating your separation and Divorce.
Leonard M. Weiner, Esq./Divorce Solutions