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can i open my own bank account?

Can I open my own bank account?

Monday 8th of July 2019
By: Aisling Clifford, Senior Associate and Accredited Family Law Specialist, Coote Family Lawyers

Gillian, I will never forget our first meeting, it was memorable in so many ways, and when I met you I thought, what good luck that I had chosen so well.

Now I am separated, can I open my own bank account?

We are commonly asked, at which stage following a separation can a party open a new bank account to receive their personal income and/or transfer savings. Anyone can of course open a new bank account at any time, subject to banking pre-conditions.   After separation though, some people will prefer that this occur straight away, and others will prefer that joint finances are maintained until a financial separation is finalised. Regardless of your preference or agreement, it will be necessary to disclose all bank accounts to the other party. A failure to disclose bank accounts is a breach of the duty to provide full and frank financial disclosure and will likely result in a dispute becoming more complicated. 

At Coote Family Lawyers, we take a pragmatic approach that is tailored to your individual needs. If you need help in navigating this issue or would like to discuss your personal circumstances, please contact us on 03 9804 0035 for a confidential discussion.

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