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VIC How to Deal with Joint Bank Account After Separation?

Discussion in 'Family Law Forum' started by Debbe Marg, 23 August 2015.

  1. Debbe Marg

    Debbe Marg Member

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    Is it legal for a wife to is going through separation to remove all the savings from joint bank account and put it all in her own name?
     
  2. AllForHer

    AllForHer Well-Known Member

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    It's not illegal, per se, but it is considered a joint asset. That means that if the other party pursues a property settlement, that money will be considered as part of the joint asset pool that needs to be divided and the other party will be entitled to a portion of it, whether it remains in the joint account or not.

    It's not wise to meddle with shared assets until a property settlement is agreed to. If you deny the other party of their financial resources, it's usually considered an act of domestic violence.
     
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