Frequently, individuals seeking divorce advice want to know when to open their own bank account and how to split the spending, credit cards and cash.
In my collaborative cases, I see couples using the same bank account and credit cards until nearly the end of the divorce process. This allows both spouses to have access to a bank account that may be tied to automatic bill payment processing. Additionally, they can see what the other is spending during the divorce.
Frequently spouses in divorce are anxious about the cash situation. Retaining the existing joint bank accounts allows the couple to keep the divorce process open and honest. In this way, the usually heightened levels of stress that come with divorce can be somewhat reduced.