CC33

Would you like to react to this message? Create an account in a few clicks or log in to continue.

CC33


+6
Alan Smithee
Suzi
CeCe
RedBedroom
Shale
Supernova
10 posters

    Joint or separate accounts

    Supernova
    Supernova
    Supernova
    The Book Chamber
    The Book Chamber


    Female
    Join date : 2010-06-22
    Posts : 11954
    Rep : 182
    • Post n°1

    Joint or separate accounts Empty Joint or separate accounts

    Post by Supernova Mon Apr 30, 2012 11:25 am

    If you are/were married, would you have a joint bank account, a separate account, or one joint with a small part of your money in it and a separate account your spouse didn't have access to with most of your money?

    Something I've noticed about marriages, people may lay down their lives for their spouse, but not their life savings. If I was married I would have the two accounts.
    • Back to top
    Shale
    Shale
    Shale
    ...is a Chamber Royal.
    ...is a Chamber Royal.


    Male
    Join date : 2010-09-27
    Location : Miami Beach
    Posts : 9699
    Rep : 219
    • Post n°2

    Joint or separate accounts Empty Re: Joint or separate accounts

    Post by Shale Mon Apr 30, 2012 11:33 am

    My wife and I had joint checking & savings accounts. Unless you've got it in an offshore Caribbean account it really doesn't matter because the money (and either's debt) belongs to both spouses in a marriage (you have to declare all your money in a divorce to be divided equally.)

    Even Jim and I, for our five years together as "roommates" had a joint account. Seems strange that no one questioned this arrangement. However, we bought our own Travelers Checks for our many trips together and I usually accumulated more of that.
    • Back to top
    RedBedroom
    RedBedroom
    RedBedroom
    …is a Chamber DEITY.
    …is a Chamber DEITY.


    Female
    Join date : 2010-02-18
    Posts : 10696
    Rep : 312
    • Post n°3

    Joint or separate accounts Empty Re: Joint or separate accounts

    Post by RedBedroom Mon Apr 30, 2012 11:37 am

    Well, we are not married, but we have been together for almost 15 years. And even if we got married tomorrow, I don't know that I could get a joint account. We split all the bills and what's his is his, what's mine is mine.

    We do talk about getting a joint savings, and actually have been a lot more lately, but I just don't know if I can do that. I should because it would be way out of my comfort zone and be a sign of solidarity.
    • Back to top
    Shale
    Shale
    Shale
    ...is a Chamber Royal.
    ...is a Chamber Royal.


    Male
    Join date : 2010-09-27
    Location : Miami Beach
    Posts : 9699
    Rep : 219
    • Post n°4

    Joint or separate accounts Empty Re: Joint or separate accounts

    Post by Shale Mon Apr 30, 2012 11:46 am

    RedBedroom wrote:Well, we are not married, but we have been together for almost 15 years. And even if we got married tomorrow, I don't know that I could get a joint account. We split all the bills and what's his is his, what's mine is mine....
    Have you made arrangements for survivorship? If you die, who has access to close your bank accounts and retrieve any money in it. That is the advantage of a joint account - keeping the bank from sitting on a dead account at pure profit.

    Even when my wife and I separated and got our own separate bank accounts I put mine 'In Trust For' her, meaning she would inherit my accounts if I died. When she died I changed the ITF to my stepdaughter.

    I sometimes wonder how much banks make on dead accounts that are never closed. I also wonder how much the travelers check companies make when a plane crashes and all those checks likely are not redeemed.     blank stare @ you
    • Back to top
    CeCe
    CeCe
    CeCe
    …is a Chamber DEITY.
    …is a Chamber DEITY.


    Join date : 2010-06-30
    Posts : 11962
    Rep : 326
    • Post n°5

    Joint or separate accounts Empty Re: Joint or separate accounts

    Post by CeCe Mon Apr 30, 2012 12:04 pm

    Both accounts (such as they are lol) are joint accounts.
    • Back to top
    Suzi
    Suzi
    Suzi
    …is a Power Member.
    …is a Power Member.


    Female
    Join date : 2011-03-01
    Location : BC, Canada
    Posts : 1529
    Rep : 85
    • Post n°6

    Joint or separate accounts Empty Re: Joint or separate accounts

    Post by Suzi Mon Apr 30, 2012 12:06 pm

    Always has been joint everything. I don't drive but even the car is in both our names.The only thing that isn't joint are the RRSP's and that is because we can't have them joint and it helps for tax purposes as well. In the case of the RRSP's we are each others beneficiaries.
    • Back to top
    Alan Smithee
    Alan Smithee
    Alan Smithee
    ...is a 20G Chamber DIETY.
    ...is a 20G Chamber DIETY.


    Male
    Join date : 2010-09-03
    Location : 40º44’18.33”N 73º58’31.82”W
    Posts : 25792
    Rep : 381
    • Post n°7

    Joint or separate accounts Empty Re: Joint or separate accounts

    Post by Alan Smithee Mon Apr 30, 2012 1:29 pm

    All our accounts have always been joint. I've got a few bucks squirreled away in an "Alan getting into trouble" fund but otherwise it's "our" money.
    • Back to top
    Nystyle709
    Nystyle709
    Nystyle709
    ...is a 20G Chamber DIETY.
    ...is a 20G Chamber DIETY.


    Female
    Join date : 2010-03-16
    Location : New York
    Posts : 27030
    Rep : 339
    • Post n°8

    Joint or separate accounts Empty Re: Joint or separate accounts

    Post by Nystyle709 Mon Apr 30, 2012 1:50 pm

    We would each have our own separate accounts and then a joint account that we would contribute regularly to that would be used solely for paying the bills.
    • Back to top
    Tony Marino
    Tony Marino
    Tony Marino
    …is a Global Moderator.
    …is a Global Moderator.


    Male
    Join date : 2010-01-31
    Location : New York
    Posts : 26786
    Rep : 607
    • Post n°9

    Joint or separate accounts Empty Re: Joint or separate accounts

    Post by Tony Marino Mon Apr 30, 2012 1:54 pm

    If I have trust and faith in my partner then its joint.
    • Back to top
    Chris
    Chris
    Chris
    Chamber Admin.
    Chamber Admin.


    Male
    Join date : 2010-01-30
    Location : Oak Park, Michigan
    Posts : 23201
    Rep : 330
    • Post n°10

    Joint or separate accounts Empty Re: Joint or separate accounts

    Post by Chris Tue May 01, 2012 1:42 am

    My wife and I keep saying that we're going to create a joint account one of these days, but…
    • Back to top
    Bluesmama
    Bluesmama
    Bluesmama
    …is a Power Member.
    …is a Power Member.


    Female
    Join date : 2011-07-09
    Location : Portland “Burbs”
    Posts : 3353
    Rep : 43
    • Post n°11

    Joint or separate accounts Empty Re: Joint or separate accounts

    Post by Bluesmama Wed May 02, 2012 2:27 pm

    Separate. I got burned in my first marriage because money spilled through his fingers like water.
    • Back to top
    Sponsored content

    Sponsored content


    • Post n°12

    Joint or separate accounts Empty Re: Joint or separate accounts

    Post by Sponsored content

    • Back to top
      Current date/time is Thu Nov 14, 2024 6:52 am