Banking question

If you have a joint checking account in Michigan with your husband, is the wife entitled to half of the money?  Also, how do I keep my husband from draining the account?

Asked over 8 years ago in Morenci, Michigan
Categories: General Legal Questions

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Matt Vititoe

Answer by Matt Vititoe

VerifiedMichigan lawyer

It depends. Presumably, all marital assets and income are jointly owned. However, there are factors that affect the even distribution of those assets and income. For example, a joint account gives each spouse access to all of the funds in the account regardless of who deposited those funds or even if each spouse agrees to take half.
Usually the question of "am I entitled to half" comes up when a spouse is contemplating divorce. If that is in fact what you are contemplating, call me to set up a consultation. 
If you are merely trying to figure out how to protect the funds in your joint accounts from your spouse's poor spending habits, consider setting up and individual account for your funds only. This would limit his access to those funds. 
Matt VititoeLAW OFFICE OF MATT VITITOE115 East Front StreetMonroe, Michigan 48161PH: (734) 693-9950FX: (734) 240-3825

Posted over 8 years ago

Matt Vititoe Law Office of Matt Vititoe 115 East Front Street Monroe, Michigan 48161 Phone (734) 693-9950 Fax (734) 240-3825

Please note that this is for informational purposes only and does not constitute legal advice to you. Legal advice pertaining to your particular situation can only be provided by a lawyer who has met with you to obtain all pertinent background information necessary to give you a formal legal opinion. For formal legal advice, hire a lawyer (many give a free first consultation). Contact Matt Vititoe, or search the Lawyer Directory.

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