QLD What Happens to Joint Savings Account After Divorce?

[JessicaJones]

What happens to the money in our joint savings account if I want to get divorced? We are married out the community of property without the accrual. I am worried that my wife will just transfer all the money in the account to her personal bank account once I approach the subject of divorce.

 

[Rod]

You have a legitimate concern.

You can open up another account in your name and place an amount you believe is reasonable in that account. It would not be reasonable to put the entire amount in there unless your wife already has an account that is solely in her name that has more than you propose to move.

Whether or not you should do this is a personal decision. There can be personal consequences in doing so, ranging from disbelief to kicking you out of the house with the bonus of a DVO thrown on top.