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When is it best to keep your money in a different account than your husbands?

Okay...My hubby has tons of financial obligations to his ex wife. Plus support and alimony. He just went back to court and owes her even more. We have been together for almost 5 years. Married two. She never stops taking him to court because she knows we have a nice savings.

I was also wondering if we should file married but seperate during tax time. He always has to show his tax return paper and I feel funny knowing she will see my income too. Any thoughts?

 
oliviahank

Asked by oliviahank at 10:38 AM on Nov. 6, 2009 in Money & Work

Level 8 (261 Credits)
This question is closed.
Answers (4)
  • In my state it is just based off of his income and not joint.  Yes it is good to keep your money seperate I know I do and also if you have 401-k etc.  If you have kids make sure it is going to them because if something happens to both of you at the same time your money could go to his ex-family instead of your kids you really need to look into that as well.  I know that is how mine is set up for those reasons.  It is nothing against my hubby just don't ever want my money going to his ex-wife. 

    patchthatpays

    Answer by patchthatpays at 6:41 PM on Nov. 6, 2009

  • We should all have our own assests. Always
    rkoloms

    Answer by rkoloms at 11:00 AM on Nov. 6, 2009

  • You need to talk to a lawyer and/or and accoutant in your state. Don't be surprised if they tell you that even if you file separately that the court will request copies of your tax returns. His first family will always come first. Just the way it is.
    Anonymous

    Answer by Anonymous at 12:56 PM on Nov. 6, 2009

  • If you have the option to file seperately do so, if they garnish his tax return your money is gone too.....and even if you guys have a joint acct, you need YOUR OWN money. thats just life!!!
    sweetstkissez22

    Answer by sweetstkissez22 at 6:53 PM on Nov. 6, 2009

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