Reply to How do you divide up shared and individual accounts with your spouse?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I do not understand why any married couple needs a separate account to purchase gifts. [/quote]

I don't understand women who willingly forfeit control of some or all of their own earnings, how about that? That's as legitimate a feeling as your own.....
[/quote]

No, not legitimate.

If you believe joint accounts = forfeiture of control, this necessarily means that both the man and woman in a joint account can lose some or all control. Unless you believe that it's impossible for men and women to share equal control over a joint account, or that women can't possibly assume majority control over a joint account, as so many joint-account relationships do, then your feelings are not legitimate.

[/quote]

A joint account can be liquidated by either party at any time.

Both spouses should always have their own money, credit, etc.

While it's all unicorns and fairies to think that such things would never happen in a marriage, I guarantee you they do.

[/quote]

Except that, when such things do happen, separate accounts do not make a difference, except for the fact that they can be liquated.  And even then, if there is a paper trial, that money can and probably will be ordered back to the spouse.

Spouses can and should have separate accounts if that works best for them, but know the $$ made during marriage is a marital asset.  And agreements to keep the funds separate can and do fall apart during a divorce. I have seen it happen frequently. So don't do it because it will help you in the case of a divorce.  And if you do it because your spouse is bad with money, just know that the bad money issues can still be your problem in the case of a divorce.[/quote]

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