Separate bank accounts are presumed to be community property if you have them during a marriage, but this presumption is rebuttable. Just because your name is the only one on an account does not mean it is yours alone.
If you had the account prior to marriage or you opened it later, but it contains only separate property, you can establish the account as your separate property by tracing, which is typically done by a qualified expert.
Further, a consideration with separate accounts, even if you trace the separate character, is that how they are used during the marriage can affect how a court classifies them.
If funds from a separate bank account are used for family expenses, if funds from a separate bank account are used for family expenses, this can have an impact.
Meet with a Seattle family lawyer if you are going through a divorce and are unsure about whether your separate bank accounts are marital property. Your attorney empathizes with you at this challenging time.
They will teach you about Washington’s community property laws. Plus, your lawyer will help you secure your assets as your divorce moves forward.
Are Separate Bank Accounts Marital Property in Washington State?
In Washington State, bank accounts you opened before marriage or kept separate during the marriage are generally treated as separate property from your spouse or domestic partner throughout your marriage, as long as you did not deposit community funds, which can include wages earned or obtained during the marriage
Washington’s community property laws will dictate whether your separate bank accounts will become marital property. Under these laws, it is presumed that all income and assets earned during your marriage are jointly owned. As such, if your separate bank accounts are commingled with marital funds, they will likely become community property.
Talk with a family attorney if you have questions about the separation of bank accounts and marital property in Washington. Your lawyer will explain how the commingling of assets could impact your separate bank accounts.
They can also discuss how long you have to be married to get your share of community property and other topics relating to the specifics of your situation.
When Will Separate Bank Accounts Become Marital Property in Washington?
Separate bank accounts will be treated as marital property when they meet the criteria for community property as defined by the Revised Code of Washington (RCW) 26.16.030.
Below are some of the situations in which your separate bank accounts could become jointly owned property:
- Commingling: Adding marital funds to your separate bank account has the potential to prompt Washington family courts to treat this account as community property.
- Depositing income: You deposit the paycheck of your spouse or domestic partner into your individual bank account. At this point, your account could be considered joint property.
- Joint tilting: If you put the name of your spouse or domestic partner on your personal bank account, this account will become owned by both of you.
- Joint usage: Using your separate bank account to cover household expenses or home improvements can cause it to become community property.
A Seattle property division lawyer can be a difference-maker for those involved in a divorce who want to prevent their separate bank accounts from being classified as marital property.
They can detail the differences between community and separate property in Washington. On top of that, they can look for ways to safeguard separate assets from division in a divorce case.
How to Protect Your Separate Bank Accounts in Your Divorce
Consult with a divorce lawyer in Seattle if you are separating from your spouse or domestic partner and are worried about protecting your separate bank accounts. Your attorney will review your divorce case and provide insights into whether your separate bank accounts could become marital property.
In addition, they may share tips to help you protect these accounts, such as:
- Avoid commingling. Do not deposit marital funds or paychecks from your spouse or domestic partner into your separate bank account.
- Do not use separate funds for marital expenses. This represents commingling and can lead a family court to view your separate bank account as community property.
- Keep detailed records. Gather your bank statements and other evidence to prove that your bank account was maintained separately from your marital property.
- Open a new bank account. This can help you manage your personal income and expenses for the duration of your divorce proceedings.
- Do not hide assets. If you do, you are violating Washington law. Meanwhile, a family law judge will consider your decision to hide your assets as they decide your case, which can hurt your chances of getting the outcome that you want.
If you feel overwhelmed as you think about whether you will lose the money in your separate bank accounts in your divorce, remember, you have access to legal help.
Divorce attorneys will treat you with respect and dignity at each stage of your divorce case. They will help you make informed legal decisions regarding asset division and other aspects of your divorce.
Find Out Whether Your Separate Bank Accounts Are Marital Property
If you rush through your divorce, you risk costly decisions. One such decision is giving up the money in your separate bank accounts, which may be treated as community property. Family lawyers can learn about you and your separate bank accounts. They can then look for ways to help you keep your individual assets in accordance with Washington law.
The team at Dellino Family Law has more than 180 years of combined experience. Our family attorneys can review your separate bank accounts and let you know if they could be classified as marital property. For more information, schedule a consultation.
