Divorce proceedings in New Jersey are inherently challenging. When emotions are running high and financial stakes are significant, individuals can find themselves in tough positions. A particularly distressing scenario arises when one spouse discovers that a joint bank account has been depleted by the other. If this reflects your circumstances, please continue reading as we explore what you should know about your rights in these matters and why it’s crucial to connect with our experienced Middlesex County Divorce Lawyers for guidance.
What Should I Do If My Spouse Emptied Our Joint Bank Account?
Facing a divorce can be overwhelming. However, these matters can be made much worse when you discover that a joint bank account has been completely wiped out, if not entirely closed. As such, the first thing you need to do is seek legal counsel. An attorney can examine your circumstances and file an emergency motion with the court. Next, you will need to collect evidence that shows when the withdrawal occurred, as well as the timing in relation to your separation.
During this period, you and your spouse can make changes to the account, such as moving a portion of the funds, closing the account, or stopping direct deposits. It’s important that any such decisions are first discussed with an attorney and properly documented to demonstrate no abuse of funds.
Will My Spouse Face Consequences?
If your spouse depletes a joint bank account, don’t panic. The court will likely view this misconduct as fraud and will not look favorably upon your spouse. Since the funds in a joint account are considered joint assets, their depletion deprives you of legally entitled assets. Therefore, the court may impose penalties for your spouse’s misuse of funds.
Generally, a spouse who empties a joint account without justification will be ordered to repay the funds, potentially through increased alimony, covering the other party’s legal expenses, or receiving a larger share of marital assets during equitable distribution. If a court order has been issued prohibiting withdrawals and your spouse violated it, they could be held in contempt of court, facing fines and other penalties. Criminal charges may be brought in instances of severe fraud.
As you can see, joint bank accounts should be treated with careful consideration between spouses during a divorce. If your spouse has drained your joint bank account, immediate action is crucial. Connect with a determined attorney as soon as possible to understand the available legal options. At Arndt & Sutak, LLC, we understand the complexities of these situations and are committed to fighting for a favorable outcome. Reach out to our firm today to learn how we can effectively represent your interests.
