The separation of a couple does not automatically end the commitments made with the bank. This is particularly true when ex-spouses have a joint account. Many people don’t know it, but even after leaving the family home or initiating divorce proceedings, everyone remains responsible for the operations carried out on this account as long as it remains active. A situation that can quickly degenerate when relationships become strained.
The risk is far from theoretical. Excessive spending, repeated cash withdrawals, bank overdrafts or unpaid direct debits can result in significant financial consequences for both holders. “If one person makes reckless spending on the joint account or creates a significant overdraft, it is both of them who are responsible andthe two who will pay the consequences »recalls Maître Anne-Laure Casado, lawyer and member of the National Bar Council.
1. Request closure of the joint account as quickly as possible
This is the first step to take. In principle, closing a joint account requires the agreement of both co-owners. “We must try to close it as quickly as possible”insists Maître Casado. In practice, a written request addressed to the bank and signed by both holders allows you to start the procedure. As long as the account remains open, banking solidarity continues to produce its effects.
2. Immediately secure payment methods
If closing the account is not possible immediately, it is essential to limit the risks. “If we can’t cut it, you must remove the means of payment from it »explains the lawyer. It is therefore necessary:
- block the bank cards associated with the account when possible;
- return checkbooks still in circulation;
- promptly report the separation to the bank.
This precaution can prevent a former spouse from continuing to make significant expenses on an account for which both holders remain responsible.
3. Quickly open a personal bank account
Once the separation begins, each member of the couple must have their own bank account. This step allows in particular:
- to receive your salary on an individual account;
- to pay personal expenses;
- to avoid any confusion between the finances of ex-spouses.
4. Take inventory of direct debits
Subscriptions, insurance, taxes, credits, electricity, gas, telephone: many debits often pass through the joint account. In the days following the separation, it is essential to establish a complete inventory of recurring operations in order to distribute them between the two ex-spouses. This approach helps avoid direct debit rejections, payment incidents or service outages.
5. Distribute the remaining money in the account
Before any closure, it is also necessary to determine who owns the money in the account. The principle is relatively simple: in the absence of proof to the contrary, the sums appearing in a joint account are presumed to belong to both holders in equal shares. “The principle is 50-50”recalls Master Casado. However, a former spouse can attempt to demonstrate that he or she funded the account alone and claim a larger share of the funds. The burden of proof then falls on him.
6. Check the credit situation linked to the joint account
This is often the most delicate point. Many real estate loans or consumer loans are taken directly from the joint account. However, their existence may prevent its immediate closure. “Sometimes the loan is linked to the existence of the joint account and the withdrawal from that joint account. It’s a bit of a hellish loop. »notes Maître Casado. It is therefore essential to quickly contact the bank in order to study possible solutions: change of direct debit account, separation of the loan or redemption of balance in the context of the divorce.
The approach that can save you several thousand euros in debt
If we had to choose only one priority, it would be this: do not let the joint account function normally after separation. The Civil Code provides that the co-holders of a joint account are jointly and severally liable towards the bank. Concretely, if one of the ex-spouses runs an overdraft of several thousand euros, the banking establishment will be able to claim full reimbursement from the other holder. In the most tense situations, some ex-spouses increase withdrawals or expenses even though the other continues to add funds to the account to pay household expenses. “I have seen couples reach completely aberrant situations with insane overdrafts on the joint account”testifies Master Casado. Hence his advice: “Do it as long as you get along.” Enjoy ». Because once the conflict has set in, closing a joint account can become much more complicated than expected.
