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Financial Issues This forum is for discussing any of the financial issues involved in your divorce.

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  #1  
Old 11-18-2013, 01:40 PM
mememe mememe is offline
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Default closing bank accounts;

Separated 4+ years (how sad is that). We have accounts that are joint----anyone to sign (I know crazy--but neither of us have ever abused this--not much left in them). I would like to close my half (yes I would inform him--we have money sitting with real estate lawyer when we figure out financials)---(good news there--he is starting to submit the stuff that my lawyer listed for him).

In a past posting I mentioned that we had a line of credit joint that was not closed. After 8 weeks, me telling him the location of the closest bank where he could sign the papers----he had done nothing. Fortunately, after spending lawyer money, I found out I could close it as the collateral was the house.

I don't want to wait forever to close these accounts and separate my name from his.

The bank tells me we both have to go in to close these accounts.

I will try and get my lawyer to discuss this in our Settlement conference (if appropriate)----but what can I get him to say so that we have a time frame for ex to get his ass in gear?

I don't want to pay for a lawyer letter separately.

Legal fees--I am sure for all --go up in January.

thoughts.
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  #2  
Old 11-18-2013, 02:03 PM
Serene Serene is offline
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You need to speak to the bank manager and explain the situation. At the very least they can freeze the account maybe so no money could be withdrawn. Explain to the manager that you need to move on and these bank accounts need to be closed but the other party is not cooperating.

Send your ex an email that the bank manager is copied on. Make it very matter of fact: I am writing to you again as it has been over 8 weeks since I last requested that we close our joint bank accounts and line of credit. I have spoken with the bank and they have advised that you have not attempted to initiate the closing of our accounts...
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  #3  
Old 11-18-2013, 02:35 PM
mememe mememe is offline
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thanks
will go to bank to see what they say
I am tempted to take out half, write a letter to the bank /email to ex and bank mger as suggested--that i have removed my half, no responsibility on these accounts and that he needs to close them.

will speak to bank first--I just called the central line
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Old 11-18-2013, 02:39 PM
frustratedwithex frustratedwithex is offline
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I don't know about the line of credit, however, you do not need 2 people present, or to sign anything, to close a joint bank account. You only need 2 people present to open a joint account.

You can go in the bank yourself and close all joint accounts. You can give your ex notice if you want, but if there is no money in them anyway, no need to.
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Old 11-18-2013, 02:52 PM
mememe mememe is offline
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that is good to know. I will check with the bank---I would like that route.

I closed the line of credit without him as it was on the house that was sold--so no collateral--no credit. I had the bank manager email him---i am too nice---should have let it go so when he went to the bank in year 2020 he would have wasted his time.
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Old 11-18-2013, 07:35 PM
dinkyface dinkyface is offline
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If unable to close it or remove your name from it... couldn't you also withdraw all money from the account? Then tell your ex he will get half the amount when he agrees to either close it or remove your name from it.

If you cannot close it, at least also remove any ability to borrow or go into overdraft on the account, and freeze cheque-writing privileges?
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  #7  
Old 11-19-2013, 01:34 AM
soonfree!! soonfree!! is offline
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I have some experience with this. You do not need permission to close a joint account. You can do this alone, the balance need to be $0 (not in overdraft). You cannot remove your name from a joint account, and leave it in the other persons name alone, it needs to be closed.
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Old 11-19-2013, 03:48 PM
mememe mememe is offline
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I am not interested in taking all the money out and creating conflict. In 4 years neither of us has abused the accounts and the money has always been accounted for. The issue is , I can remove my half---but I can't remove my name from the account---can I????? Let him keep the account and close it as he wishes--I just want to separate my name from the account and anything related to him. The account has to be empty to close it. If I take my money out first----his is still there and I can't close the account.
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  #9  
Old 11-19-2013, 04:16 PM
dinkyface dinkyface is offline
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Take out all the money and write him a cheque for half!
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  #10  
Old 11-19-2013, 04:17 PM
mememe mememe is offline
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That's a good idea. Thanks
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