Is the money in my personal bank account safe in the case of a divorce?

Question

There may be a divorce lurking in my future.

I have a rather large sum of money in my personal bank account (only my name is on the account). This money was given to me as a gift.

Do I need to consider protecting this money from my spouse in the case of a divorce? If so, how do I protect it?

I live in Canada.

Answer 1

If she doesn't know your account number and only your name is on the account then your good to go.

Answer 2

NOPE! Be prepared to give up half buddy.

Answer 3

if it was given to you as a gift you should be ok. but if there is no evidence of you having it given to you hide it in someones bank

Answer 4

Nothing is "safe" when it comes to divorce.   I would contact an attorney for ways to protect your assets.  Perhaps you could transfer the money to a friend or relative that you trust while you go through the divorce...then when it is over the money could be given back to you.

Answer 5

Nothing financial is "safe" if there wasn't a pre-nuptial agreement made prior to marriage.  

The basic rule of thumb is that everything acquired AFTER marriage is split 50/50 in a divorce...UNLESS there was a written stipulation on what would go to whom in the event of a split.

Answer 6

No. Your name and SS#, or tax ID will enable lawyers to place a hold onto all of your accounts.

If a divorce is imminent, move the money to a trusted family member or friend for the short term. If not, then withdraw the cash and hide it yourself. You'll be quesitoned about the withdrawl, but you simply say that you spent it all, and tell them nothing else.

Answer 7

Psst. Wife. Clean him out NOW.

Answer 8

Quick!  Cash out, get a cashier's cheque and put it in a safe deposit box.

Answer 9

It's probably safer under your mattress;)

Answer 10

no  you have to produce everything

Answer 11

if it was premartial and never had the spouses name, then it's still yours.  anything combined becomes marital property.   this is the US thing....if you have to go thru discovery to prove your worth, you will have to note it but that doesnt mean it's marital if what above applies

Answer 12

In the US any money in bank accounts is divided up after a divorce.  You should take it out and put it away somewhere else other than a bank account.  I'm not even sure if a safety deposit box would be safe, it's possible they could check there.