![]() ![]() Here’s what you need to know about what happens to joint accounts when the account holders separate. However, there are a number of ways that joint account holders can protect themselves and their finances in case of a breakup. 1 reasons for divorce, and if it’s already a source of contention, that can lead to a partner emptying an account or using money as a bargaining chip,” Althen says. “But one day after we broke up, I was taken off the business account and he emptied the joint account.”Īudra’s story is a common one, according to Wendy Althen, founder and owner of Althen Financial Solutions, LLC in Milwaukee. I even worked for his business and we had a business account and one joint account at the bank,” explains Audra, who asked that her last name not be used. ![]() When Audra and her partner split up, her ex made some financial decisions with their joint account without consulting her. ![]() But what happens to your joint accounts if the relationship doesn’t last? It’s not always pretty. By pooling your finances into a joint checking or savings account, you can simplify your shared finances and work together toward mutual goals. Joint bank accounts can be a convenient way to share expenses with a significant other. ![]()
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