Breach of Contract creating Joint Brokerage Account

[dobie]

What is the name of your state? CA

I had a brokerage account. As a sign of commitment ("in contemplation of marriage"), I added her name, making it a joint account. Her part of the deal was to add me as beneficiary to various accounts of hers, and to add me to her health insurance policy (through her employer).

Without telling me, she removed my name from all her accounts and from the health insurance. (We are no longer contemplating marriage.)

I say that that broke the contract, and she should have simultaneously removed herself from the Joint Account. She has since tried to withdraw a large sum without my knowledge; fortunately, the institution (which is where she works) got suspicious of her activities and froze the account.

She never put a dime into the account, and I can prove it. It was always understood that it was my money, and we both acted that way. (Only I did transactions.)

I don't believe she should be entitled to this money after breaking the agreement.

I suspect that she could have ripped me off legally if she had withdrawn the money before she broke the contract, but the attempt came after.

Is there a flaw in my logic?

 

[Dandy Don]

Yes--where is the signed agreement/contract you are referring to? And why would you want to add her name to your accounts if you were not married to her?

If she was prevented from getting any money, you should be happy about that and you have not been damaged.

DANDY DON IN OKLAHOMA ([email protected])

 

[tranquility]

You are in a difficult situation. Without reading the joint account agreement, I don't know exactly what happened. It is very likely you gave 1/2 of the account value to the ex. If you were to remove the money, she may sue you for the violation. Titling is presumptively correct. If the reality is different, you may need to prove it in court. You can *prove* it, right?