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SA How to Deal with Child's Bank Account During Divorce?

Discussion in 'Family Law Forum' started by Metal Marky, 2 August 2016.

  1. Metal Marky

    Metal Marky Member

    2 August 2016
    Likes Received:
    What is the best-suggested course of action with a child's bank account and term deposit accounts?

    The other party won't allow viability or access. I estimate there would be around $15-16,000 collectively in both accounts. During mediation, the other party had agreed to set up dual access with a safeguard of no changes could take place without dual consent, but that was over 12 months ago.

    I would rather split the amount and separately invest in the child's name rather than having engage in a protracted email debates over which principle is better; splitting the money up or keeping it together.

    What is the best way forward since this item is holding up our DIY divorce?

    Does this money go in the pool?

    What is the best financial structure for the child?

    Thanks in advance
  2. sammy01

    sammy01 Well-Known Member

    27 September 2015
    Likes Received:
    If she doesn't agree to set up a dual access account then there ain't much you can do if you can access the money. So take it to court? Nope, it will cost more to get to court than it is worth...

    Maybe realise there are some fights you can't win. Set up your own account to put some money in for the kid's future.

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