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

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]
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]

I'm sure lots of people who've seen money disappear as a marriage collapses would be thrilled to tell you that it's a 100% certainty that that money gets returned under a court order. The same way that it's a 100% certainty that child support gets paid once there's a court order.

None of my feelings about separate accounts have to do with shielding money in a divorce*--they have to do with the fact that I am my own person and DH is his own person and we can come together as a team to pay our bills and have an incredibly successful financial life, but that doesn't mean my having to become The Little Woman who with stars in her eyes hands over 100% of the paycheck that I earn each month. And I would never ask DH to do that either with 100% of the money he has made. We know what the financial responsibilities are to the household and to each other, and when retirement comes finances will probably become much more joint, but at this point, once the household expenses are covered via the monies we each put in the joint account, neither of us care nor need to see every spending decision the other one makes with the fruits of their own labor.

(Obv we make similar amounts of money and also are doing quite well, but even when finances were much more tight, we operated this way. And it in fact requires a lot of communication about money. We also are both very responsible about spending. All of which makes it work for us.)

*Though, if you get a big inheritance, you most definitely need to keep it in a separate personal account if you have any hope of keeping 100% of it in a divorce.
[/quote]

You just have a completely different opinion on this.  Most women don't view it as handing over their paycheck. Why?  Their name is on the account!  Same for their husband.

My husband and I have a joint account and put 100 percent of our paycheck in it.  It works for us.  If I wanted to have a separate account I would take it as a sign I shouldn't be married.  If you can't share your wealth then there's a problem.  [/quote]

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