Tag: separation

Untangling Finances: A Guide to Splitting Joint Bank Accounts
September 9, 2025 Off

Untangling Finances: A Guide to Splitting Joint Bank Accounts

By The Admiral Staff

When a relationship ends, a joint bank account can become a burden. Experts recommend discussing next steps together, potentially using a mediator or CDFA for financial advice. Contacting your bank to limit transfers is an option, but laws vary by location. It’s advisable to open a new, separate account at a different bank and gradually move funds, ideally taking only half initially. Dividing shared bills and protecting your credit by monitoring accounts are also crucial steps to ensure a fair and financially sound separation.

Surviving Spouses & Debt: What You Need to Know
January 10, 2025 Off

Surviving Spouses & Debt: What You Need to Know

By The Admiral Staff

Whether you’re responsible for your separated husband’s debt depends on your state’s laws (community property vs. common law), whether you’re legally separated, and if your name is on any accounts. Generally, in most states, you are not responsible for debt solely in his name. However, you are responsible for any joint debt where your name appears, like a mortgage or credit card. It’s recommended to check your credit report and take steps to remove yourself from any shared financial