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CC33


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Alan Smithee
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10 posters

    Joint or separate accounts

    Supernova
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    • 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.
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    • 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.
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    • 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.
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    • 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
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    • 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.
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    • 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.
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    Alan Smithee
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    • 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.
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    • 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.
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    • 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.
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    • 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…
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    • 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.
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    • Post n°12

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