QUESTION

My Sons wife has asked for a divorce.They have a joint savings account.Can He withdraw 1/2 to open a new acct?

Asked on Jul 20th, 2017 on Divorce - Wisconsin
More details to this question:
The acct is for taxes, insurance etc, and she has already taken money (400$) for a 4 day concert. He wants to make certain he is able to pay his share of bills and they contribute equally to it.
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1 ANSWER

Divorce Attorney serving Milwaukee, WI
Partner at Karp & Iancu S.C.
4 Awards
wisconsin is a marital property law state. He has a right to take 50% of the bank account proceeds; however, he should be aware he is also responsible for 50% of the debts and financial obligations, so that is not just free money for him to do whatever he wants with it. The bills still must somehow get paid. Once the divorce gets filed, either party can request an initial first court hearing before the court commissioner and if the parties do not have an agreement, the court will set orders on  support, finances, what bills have to get paid, etc., among other temporary issues.
Answered on Jul 21st, 2017 at 5:15 AM

David B. Karp Karp & Iancu, S.C. 933 North Mayfair Road #300 Milwaukee, WI 53226 414 453 0800 dbk@karplawfirm.com www.karplawfirm.com

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