You get divorced. What happens to your savings? You don't want the money you invested and put aside to go into the other person's pocket and you want a fair share. Fair enough! In love, as in investment, you should not put all your eggs in the same basket.
Don't wait until you're frustrated or annoyed by it to protect your savings. The best solution is always to anticipate. This makes it easier to settle disputes amicably. Birdee gives you tips on how to anticipate and protect your savings in case of divorce!
Make a marriage contract and choose the matrimonial regime adapted to your personal situation. The matrimonial regime defines the distribution of property and assets within a married couple. It is determined by the marriage contract or the absence of a marriage contract!
If you have not signed a marriage contract, like the vast majority of couples, the regime that automatically applies is that of the community of acquests. This means that all the goods you buy, the joint bank account and the savings books opened during your marriage, will be divided 50/50 in case of divorce (except in certain conditions). This is the case even if only one of the spouses has opened and paid into the joint savings account. The reduced community of acquests is therefore not necessarily adapted to your situation! With the matrimonial regime of separation of property, you remain the owner of the goods you buy and they do not fall into the community.
The notary has the duty to advise both spouses impartially. He or she is responsible for drafting the marriage contract so that everyone can agree on it. Choosing the right matrimonial regime remains the best solution to anticipate the division of property during a divorce.
In case of divorce, the division of your savings depends on your matrimonial regime.
Remember that under the regime of the community of acquests (also called legal regime), the savings subscribed by the spouses, and even when the account is opened and fed by only one spouse, automatically belong to both spouses. You always have the possibility to prove that you were the only one to contribute to the account, but this takes time and we don't want to move on quickly! With the regime of the separation of property, you recover the money saved on your savings supports.
|
Good to know: the sharing of employee savings also depends on the matrimonial regime of the spouses! |
If you opened a life insurance policy while married, the fate of the payments and interest depends on your matrimonial regime. In the event of a divorce, and depending on the situation, the distribution may be more complex because you continued to contribute to the account during your marriage and the payments may be considered as coming from joint funds.
If, after you were married, you named your spouse as beneficiary on the life insurance policy you opened before you were married, consider changing the clause. Depending on the situation (whether or not the beneficiary has accepted the designation under the conditions stipulated by law), the procedure changes.
Does it feel like a mess at home 😬 ? As you can see, what happens to your savings in the event of a separation is complex and depends on many factors. A lawyer can help you understand the laws in force, take stock of your situation and give you advice on how to protect your savings during a divorce.
In France, you can consult a lawyer free of charge at the town hall or at a Point Justice, thanks to a national system of legal advice centres.
|
One last tip: in the event of a divorce, don't forget to protect savings and bank accounts opened for your children. Both parents are designated as co-managers. You can ask the bank to apply a clause that requires the authorization of both spouses in case of action required on the bank account. |