What are a wife's rights to money that is held separately in her husband's own account?

Asked almost 3 years ago - Charlotte, NC

If a couple are married living in NC and currently have joint checking and savings accounts with an on-line bank that is in VA and the husband just opened a new checking and savings accounts in his name only with a payable on death beneficiary to his wife then if they get divorced does his wife get any of the money he has in the new accounts?

He works for an organization and they did direct deposit into the joint account but now into his single account and he receives a 1099 from this organization for taxes. His wife does not work.

Attorney answers (3)

  1. Howard M Lewis

    Pro

    Contributor Level 20

    3

    Lawyers agree

    10

    Answered . Sorry to hear that you are going through this. If the money was deposited into the the account during the marriage and it is considered marital property then it should be equitably divided. Take care and good luck, Happy Thanksgiving.

    Legal disclaimer: The response given is not intended to create, nor does it create an ongoing duty to respond to... more
  2. Scott E. Allen

    Contributor Level 11

    Answered . If the money in that account was earned during marriage and deposited prior to the date of separation it is marital property under North Carolina and therefore subject to being divided by the court. In other words, from the facts as you outline them, it would appear that each party has a marital interest in the account. A central point of North Carolina equitable distribution law is that the title on the property is not the most relevant issue, it is the nature of when and how the asset was acquired.

    LEGAL DISCLAIMER: SCOTT ALLEN IS LICENSED ONLY IN THE STATE OF NORTH CAROLINA. THIS RESPONSE DOES NOT CONSTITUTE... more
  3. David Alexander Browde

    Pro

    Contributor Level 20

    1

    Lawyer agrees

    Answered . Where the money is located and whose name is on the account are not the important factors. When the money was received and for what -- that's what matters.

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