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If you’re currently going through a divorce or considering one, you can be sure of one thing: you’ll receive plenty of advice. In fact, much of it will be unsolicited. Once people learn you’re facing a divorce, they’ll likely offer their own divorce tips in Texas, whether you ask for them or not.
A person doesn’t need to have gone through a divorce themselves. If a cousin went through a divorce, prepare to take in some advice. Learn about the dos and don’ts of getting divorced.
On the other end of the spectrum (hopefully) will be this blog post. The Law Office of Bryan Fagan, PLLC, represents individuals going through divorces with great regularity. As such, I believe we are qualified to give advice that can positively impact your life. Today’s discussion will cover issues regarding banks: safe deposit boxes, checking accounts, and savings accounts.
Handling a safe deposit box while getting divorced
If you and your spouse have a safe deposit box at your credit union or another financial institution, you should know that you consider the contents of the box as property, not the box itself.
From my experience, most safe deposit boxes are accessible by both spouses and as such, it makes some sense for you to make sure that you have an idea of what is inside of it at the beginning of your divorce.
Why do I suggest this, you may be asking. Our office has a former client in a position where he didn’t have a safe deposit box but a physical safe that only he had access to. When he was away on a business trip, his wife decided to raid the safe. She and her attorney at first insisted that she did not do so. However, as luck would have it, our client contacted a locksmith in his area to examine the safe with him. This was the same locksmith his wife used to break into the safe.
We provided this information to the wife’s attorney. The taken items were returned with a promise not to act this way again.
Dealing with illegal access committed to your safe
Our client knew exactly what was in the safe, including the specific amount of money. Although he traveled often for work, he could report the contents to me when he discovered the illegal access to his safe.
Take a witness to the bank to inventory your safe deposit box. Speak to a bank employee to document your presence on that day. It’s best to bring someone other than a family member.
Act before temporary orders are in place
Once temporary orders are in place, you cannot affect the contents of bank accounts or safe deposit boxes. If no orders are in place, you can remove items and place them in your safe deposit box or personal safe.
If the items you remove are your separate property, there should be no issue. Also, if you remove objects that could be community property, tread lightly.
Handle checking or savings account contents cautiously, just as you would with safe deposit boxes, especially while temporary orders are in place. Once a divorce begins, you cannot alter the course of your money. If your paycheck is automatically deposited into the family checking account, keep it there during your divorce.
Paying for an attorney from the community bank account
Potential clients often tell me that when their spouse filed for divorce, they removed much of the shared checking account to hire an attorney.
There is nothing that is per se illegal about doing this, and for many families, the contents of their checking account are pretty much exactly what a family law attorney could need to begin work on your case.
During a divorce, you can take certain expenses out of a jointly held bank account. You can cover living expenses such as clothing, shelter, food, and attorney fees.
What works well for many spouses going through a divorce is to agree to close any jointly held accounts to begin the transition into single life. You can open separate accounts, which will more easily facilitate the “necessary” spending inherent in any divorce case.
In conclusion, while you’ll likely receive an abundance of unsolicited divorce tips in Texas, it’s important to approach advice with caution. Not all advice is applicable to your unique situation, and it’s essential to focus on expert guidance tailored to your specific needs. By consulting with a qualified attorney and understanding the legal process, you can make informed decisions that serve your best interests and ensure a smoother transition through your divorce.
Questions about how to approach your divorce finances? Contact the Law Office of Bryan Fagan, PLLC
Thank you for the opportunity to share with you this blog post related to divorce cases in Texas.
A divorce will put your finances to the test, and it is essential to know that your attorney has your back and is ready to intercede on your behalf if necessary.
The attorneys with the Law Office of Bryan Fagan, PLLC, represent clients with respect and honor. Please get in touch with us today to learn about how our office may assist you during whatever family law matter you are facing.
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Law Office of Bryan Fagan, PLLC | Houston, Texas Divorce Lawyers
The Law Office of Bryan Fagan, PLLC, routinely handles matters that affect children and families. If you have questions regarding divorce, it’s essential to speak with one of our Houston, TX, Divorce Lawyers right away to protect your rights.
Our divorce lawyers in Houston, TX, are skilled at listening to your goals during this trying process and developing a strategy to meet those goals. Contact the Law Office of Bryan Fagan, PLLC by calling (281) 810-9760 or submit your contact information in our online form.
