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When a couple decides to divorce, one of the first financial questions that often comes up is: What happens to our joint bank account? Whether it’s a checking or savings account, a joint account is typically treated as marital property under Florida law. But that doesn’t mean it’s always split right down the middle.
If you’re divorcing in Orlando or anywhere in Central Florida, here’s what you should know about joint bank accounts and how they’re handled during divorce.
Joint Accounts Are Usually Marital Property
In Florida, most property acquired during the marriage is considered marital property, and that includes joint bank accounts, even if only one spouse deposited most of the money. Courts generally assume that both spouses have an equal interest in the account, unless there’s a clear agreement or evidence showing otherwise.
That said, equitable distribution doesn’t always mean a 50/50 split. Instead, the court looks at several factors, such as:
- The length of the marriage
- Each spouse’s financial and non-financial contributions
- Whether one spouse mishandled or hid funds
- Any written agreements between the spouses\
So if you and your spouse had a joint account while living in Orlando and used it for everyday expenses, chances are those funds will be divided equitably in your divorce, even if one of you earned more.
Can One Spouse Empty the Account?
It’s not uncommon for one spouse to withdraw a large sum—or even the entire balance—from a joint account after deciding to divorce. While technically both spouses have legal access to the funds, clearing out a joint account can backfire.
Judges don’t look kindly on attempts to “clean out” an account, especially if it appears one party is trying to hide or misuse marital funds. If one spouse withdraws more than their fair share, the court can:
- Order them to return the funds
- Award other assets to the affected spouse as compensation
- Consider the behavior when dividing other property or awarding support
If you’re thinking about separating and worried your spouse may take action like this, it’s wise to talk to an Orlando divorce attorney right away. They can help you take protective steps, such as filing for temporary relief or asking the court to freeze the account.
What If the Account Was Opened Before the Marriage?
If the joint account was opened before the marriage, things can get more complicated. Money deposited before the marriage may be considered non-marital property, but once it’s commingled with marital funds, it often becomes difficult to trace.
For example, if you had a personal savings account before getting married in Orlando and then added your spouse to the account after the wedding, the court may treat all of those funds as marital unless you can clearly identify what portion was yours alone.
An experienced Orlando divorce attorney can help you trace separate funds and make a stronger case for how the account should be treated.
What Should You Do With a Joint Account During Divorce?
It’s best not to make any big financial moves without legal guidance. Here are a few general steps to consider:
- Review account activity to make sure there haven’t been any unusual withdrawals.
- Avoid draining the account, even if you’re worried—courts may see that as bad faith.
- Open a separate account for your income moving forward.
- Work with your attorney to request a temporary order if needed to protect marital assets.
Whether you’re filing for divorce in Orlando or responding to a spouse’s petition, having a strategy for handling joint accounts can help protect your financial interests.
Speak With an Orlando Divorce Attorney
Dividing finances during a divorce isn’t just about numbers—it’s about protecting your future. At Orlando Family Team, we help clients throughout the Orlando area handle complex property issues with clarity and confidence. If you are going through a divorce, trust us to protect your rights and interests. Contact us today to schedule a consultation with an experienced Orlando divorce attorney.
