My wife and I have joint savings and checking accounts. We are in the process of a divorce, and I discovered that she withdrew exactly half of the funds in our savings account, depositing them in an account set up in her name only, about which I have no details. She says that she has done this to protect herself and the family. Is this legal? I am in Pennsylvania.
Untitled
In reality, the funds on deposit, as far as the bank is concerned, were owned individually and jointly by each of you. Divorce proceedings aside, she could have taken all the funds, just as you could have. Who owns how much of the funds you have is up to state laws and the divorce court.
If you still have funds in the joint account, she can still have access to that money as well. She is still an owner.
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In reality, the funds on deposit, as far as the bank is concerned, were owned individually and jointly by each of you. Divorce proceedings aside, she could have taken all the funds, just as you could have. Who owns how much of the funds you have is up to state laws and the divorce court. 