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Seperate Bank Accounts - Is that considered Community Property

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C

calidivorce

Junior Member
What is the name of your state (only U.S. law)? California

My husband and I have had our own seperate bank accounts and never joined accounts after marriage. We both earn and have been depositing our incomes seperately. I wanted to know if there is a divorce, will our own individuals accounts be considered community property as well and would have to be distributed evenly?What is the name of your state (only U.S. law)?
 


Zigner

Zigner

Senior Member, Non-Attorney
calidivorce said:
What is the name of your state (only U.S. law)? California

My husband and I have had our own seperate bank accounts and never joined accounts after marriage. We both earn and have been depositing our incomes seperately. I wanted to know if there is a divorce, will our own individuals accounts be considered community property as well and would have to be distributed evenly?What is the name of your state (only U.S. law)?
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By "incomes" I am assuming you are talking about wages. As such, yes, those funds are community property.
 
A

Antigone*

Senior Member
calidivorce said:
What is the name of your state (only U.S. law)? California

My husband and I have had our own seperate bank accounts and never joined accounts after marriage. We both earn and have been depositing our incomes seperately. I wanted to know if there is a divorce, will our own individuals accounts be considered community property as well and would have to be distributed evenly?What is the name of your state (only U.S. law)?
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If you are in the great State of California (and you are) the answer is..

...yep:cool:
 
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nextwife

Senior Member
I believe that is ONLY if the account was comingled with marital funds.

So, say you come to the marriage with a stock account at Smith Barney, a checking and savings at Wells Fargo and an annuity at Prudential, and during the marriage ONLY place marital income into the Wells accounts, but leave the stocks and annuities alone. In that case, I am fairly certain that ONLY those Wells account become marital property, while the non comingled accounts stay seperete.
 
M

mistoffolees

Senior Member
nextwife said:
I believe that is ONLY if the account was comingled with marital funds.

So, say you come to the marriage with a stock account at Smith Barney, a checking and savings at Wells Fargo and an annuity at Prudential, and during the marriage ONLY place marital income into the Wells accounts, but leave the stocks and annuities alone. In that case, I am fairly certain that ONLY those Wells account become marital property, while the non comingled accounts stay seperete.
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Right, but OP says that they have been depositing their incomes to the account, so it's comingled.


Now, if the pre-marital amount were large enough, it MIGHT be possible to separate it out as a separate (non-marital) asset, but that's a lot of expense.
 
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