Finance Question

FunkyTownMascot · 2023-02-21T11:59:34+00:00

If it's a community property state then it's all community assets and debt until the Decree of Divorce is entered. If there's a separation clause then you might be able to use that as a line of where community becomes individual.

That said, if she just acts recklessly knowing a divorce is coming then a judge likely will take that into account on the asset split.

Immediately remove your name from any joint credit cards or bank accounts. Open a new bank account and move exactly 50% of what's in it there. Open new credit cards only in your name.

Gattsama · 2023-02-21T12:03:22+00:00

If it's done after filing or official separation date thr new debt is hers. The easiest thing to do is to open all new accounts and then to not use any community assets at all. You have the records at the time of separation do anything done after is clearly on her.

In my case the eX:

took out $20k from our personal line of credit
maxed out the joint VISA +$9.5k
withdrew $7.5k cashiers check from joint checking

The line of credit and VISA were awarded back to me as credits at final settlement. The cashiers check was lost money as they claimed it was for the retainer on her attorney and that I used $3k of communal funds for the first month of rent at the place I was staying.

So keep track of everything. Open your own accounts. Direct deposit your pay to your accounts. Try to make very clear separation of all spending, keep records on everything.

CommanderOfCheese45 · 2023-02-21T17:50:49+00:00

The spouse shouldn't be able to run up debt or take out a loan after filing for divorce. The initial filing creates an injunction against doing such and all credit should be frozen. If she manages to do it anyway, then it will be clawed back (i.e. considered only her debt and the value thereof counted against division of assets, i.e. as something she's already taken from her share).

Title	Finance Question
Author	funrunner1977
Upvotes	4
Comments	5
Date	February 21, 2023 11:41 AM UTC (3 years ago)
Subreddit	Posted in /r/Divorce_Men
Original Link	https://old.reddit.com/r/Divorce_Men/comments/1181hg1/finance_question/
Archive Link	https://theredarchive.com/r/Divorce_Men/finance-question.1153046 https://theredarchive.com/post/1153046

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