Divorce can be a stressful and emotionally charged process, and financial concerns often add to the tension. You may be wondering, “Can I empty my bank account before divorce?” You should, however, think twice before making this decision because it can have serious legal and financial consequences. While emptying your bank account may seem like a way to protect yourself, it could actually backfire and negatively impact your case. Keep reading to learn more.
Related Articles: Can You Divorce Without Splitting Assets? | How to Protect Your Assets Without a Prenuptial Agreement
Is It Legal to Empty a Bank Account Before Divorce?
While you may be tempted to withdraw all the money from a joint account, doing so can be seen as an unfair or even illegal act, depending on your state’s laws. Many states have community property or equitable distribution rules that require assets to be divided fairly. Taking all the money could be viewed as an attempt to deprive your spouse of their rightful share.
Additionally, many states issue automatic financial restraining orders once a divorce is filed, preventing either party from making significant financial changes without court approval. If you empty a bank account after filing for divorce, you could face serious legal consequences.
Potential Consequences of Emptying Your Bank Account
- Legal Penalties – Courts frown upon financial misconduct. If your spouse files a complaint, a judge may order you to return the money or impose financial penalties. In extreme cases, it could even be considered contempt of court.
- Damage to Your Case – Divorce courts prioritize fairness. If a judge believes you acted in bad faith by taking all the money, they may compensate your spouse in other ways, such as awarding them a larger portion of the marital property or granting more spousal support.
- Freezing of Accounts – In some cases, a judge may freeze joint accounts to prevent further financial manipulation. This could leave both you and your spouse unable to access the funds until the court makes a decision.
- Negative Impact on Child Custody – If you and your spouse share children, your financial actions could be scrutinized when determining custody arrangements. A judge may view an attempt to drain a bank account as an indication of irresponsible or vindictive behavior.
What Are Some Legal Alternatives?
If you’re concerned about protecting your finances, here are some legal and fair steps to take:
- Consult a Divorce Attorney – Before making any major financial decisions, speak with an attorney who specializes in family law. They can guide you on the best course of action while keeping you compliant with the law.
- Open a Separate Account – If you’re still earning income, consider opening a separate bank account in your name and depositing new earnings there instead of into a joint account. Assets aquired during the marriage will be considered marital property, especially if it is in an account that has been commingled with your spouse’s assets.
- Negotiate Temporary Financial Agreements – Instead of acting unilaterally, work with your spouse (or their attorney) to create a temporary financial agreement that outlines how expenses and assets will be handled until the divorce is finalized.
- Document Financial Transactions – Keep detailed records of all financial transactions, including withdrawals, expenses, and transfers. If you need to move money to cover essential expenses (such as rent, mortgage payments, or legal fees), having documentation can help demonstrate that you acted responsibly.
- Consider Mediation – A divorce mediator can help both parties come to a fair financial agreement without resorting to drastic actions like emptying accounts. Mediation relies on communication between both parties to reach a custom agreement that both parties agree to. Check your local county courthouse’s website for a list of local mediators.
There are many ways to protect your assets. Check out our article titled “How to Protect Your Assets During Divorce in Illinois” for more information.
Conclusion: Can I Empty My Bank Account Before Divorce?
Emptying a bank account before divorce can have serious repercussions, both legally and financially. Instead of making rash decisions, take a strategic and legally sound approach to protect your interests. Divorce is already complicated—don’t make it harder by engaging in financial actions that could damage your case in court.
MEET WITH AN ILLINOIS FAMILY LAW ATTORNEY TODAY
The Family Law attorneys at Koth Gregory & Nieminski understand that your family is the top priority, which is why we offer SAME-DAY APPOINTMENTS. If you need a divorce or other family law services, you can schedule your first meeting through our online appointment calendar. We look forward to meeting you.
Disclaimer: This article (Can I Empty My Bank Account Before Divorce?) may contain information that is outdated as Illinois law continuously evolves. Meeting with an experienced family law attorney is the best way to ensure you are receiving the most current information about Can I Empty My Bank Account Before Divorce?
Published by Dustin Koth on February 24, 2025
