Asked in Taxes and Tax Preparation, Bankruptcy Law
Can a married couple file bankruptcy separately?
They can file separately only if the accounts on which they are filing are separate accounts. If the accounts are joint accounts, they must file jointly. In other words, if both the husband and the wife are on the account they cannot file separately. ...
Asked in Child Support, Income Garnishment
Can the state of Texas garnish my wages for my husband's child support?
No. His child support obligation is not your responsibility. However, you should keep your finances separate- no joint bank accounts. No. His child support obligation is not your responsibility. However, you should keep your finances separate- no joint bank accounts. No. His child support obligation is not your responsibility. However, you should keep your finances separate- no joint bank accounts. No. His child support obligation is not your responsibility. However, you should keep your finances separate- no joint bank accounts. ...
Asked in Banking
How much money can married couple have in one bank for FDIC guarantee?
If you have separate accounts, you can each have $100,000.00, for a total of $200,000.00. If it's a joint account, $100,000.00 is the limit. ...
Should married couples get a joint checking account?
There are pros and cons to spouses sharing a joint account. In today's volatile economic climate, it is more adviasable to have separate accounts. If you wish to have a joint account, use it as a maintenance account for paying joint bills: mortgage, utilities, groceries, etc. ...
Do you have to file married if you got married at the end of the year?
YES. Married filing joint or Married filing separate if you were married on December 31. ...
What is the difference between filing married and married separate withholding payroll taxes?
Married Filing Separate will withhold a higher amount than Married Filing Joint. That is the only difference as far as withholding goes. ...
Asked in Credit and Debit Cards, Banking, Money Management, Credit, Commercial Bank and Checking Accounts
Can joint checking accounts be frozen for a husband's credit card debt?
Yes. The only exception is if the married couple live in a state that allows joint marital accounts to be held as Tenancy By The Entirety (TBE). ...
What if you are not married and you want to apply for a joint account?
This should not be a problem if you both are credit worthy. Joint accounts are held by family members, friends and so on. ...
Can joint checking accounts held by persons who are not married be garnished?
Yes. A joint account held by persons who are not married nor related can be levied by a judgment creditor to the extent of the funds in the account that belong to the debtor. ...
When married but separated can married filing jointly be the filing status?
IF you are NOT LEGALLY separated in the state that you are a a resident of on the last day of the year. Your filing status would be married filing joint or on a separate 1040 federal income tax return MARRIED FILING SEPARATE. ...
Asked in Teen Dating
When your friend ask you about marriage advice?
First are they getting married or are they breaking up. This is a difficult question to ask him or her and have you ever known a couple that has been divorced? Now ask them if they have talked about having a joint or separate bank account. What I have found is that a couple that gets divorced usually has separate bank accounts. One person in the relationship is being more selfish than the other. What happens is that with separate bank accounts...
Can the husband tke money from the joint account and open a separate account?
The simple answer is yes, but you may want to let your spouse know about what you intend to do before you do it. Otherwise, there may be confusion that could cause headaches and time wasted clearing things up. You may want to check the details about any specific accounts you may be interested in, but there are accounts out there that allow you to have joint and/or separate accounts through a financial institution. ...
What are the legal effects of joint banking accounts between two unmarried people?
Should be the same as if they were married one would think.
Asked in Wills
Can a person who is not appointed executor but his attorney tells him to close out accounts?
He can if the accounts are joint accounts and he is the joint account owner. However, if he was the joint owner for convenience purposes only the other heirs should seek their share of the funds. ...
Asked in Banking
What allows the husband and wife to deposit and withdraw money from the same place?
Joint accounts. A joint account has both peoples' names on it so either of them can withdraw from it. Also there's no saying they couldn't have separate accounts and still be able to deposit and withdraw from the same bank. Just not from the same account. ...
Is better filing jointly with a spouse or separately?
If you are married, you can legally on file in two ways, Married Filing Joint and Married Filing Separate. Married Filing Separate excluded you from getting any tax credits and you only get half of the Standard Exemption. I have never seen a case where Married Filing Separately was better. Married Filing Separately also requires you to include your spouses social security number on your return. If you are married but legally separated for at least the last six months of the...
Asked in Relationships, Credit and Debit Cards, Credit
If you have about 50000 in credit card debt and have some joint accounts with your boyfriend is he liable?
Yes, but only on the ones that your boyfriend is on (joint credit accounts only). ...
Does it effect your credit score when you get married to someone with bad credit?
No, you can get bad credit only if you have a joint (co-signed or authorized user) on the bad person credit card. Keep your accounts separate. If you want to buy a house a lender may require both credits and that is when it would affect you. ...
Asked in Probate
Does it eliminate estate and probate when heirs are on all accounts as joint owners of deceased?
If the only assets owned by the decedent were joint accounts then those accounts would be owned by the surviving joint owner. Real property, if not held in a joint ownership with right of survivorship, would need to be probated to vest title in the heirs. ...
Asked in Banking, Estates, Stock Market
How are joint cash management accounts for a married couple after one has died?
If the account was originally set up as joint tenants with the right of survivorship then full ownership passed to the surviving joint owner. A copy of the death certificate should be sent to the company holding the account. ...
Asked in Bankruptcy Law
Will your spouses credit be effected if you file bankruptcy alone?
In a perfect world, the answer would be NO. However, if you have any joint accounts or have separate accounts with the same creditor, it would be advisable to monitor your credit reports for any adverse entries in your wife's name. ...
Asked in Debt and Bankruptcy, Credit Reports, Credit
If you get married how will your credit reports and bankruptcy affect your future spouse's perfect credit?
Your credit follows you individually. If you have joint accounts then they appear on both of your credit reports. ...
Asked in Taxes and Tax Preparation, Income Taxes
Are you supposed to file your taxes as married if you live together and have 2 kids and have filed taxes together in the past?
You do not have to file a joint tax return if you are married. Each year you may elect to file separate or joint. If you file separate, the children you have can only be claimed by one spuse, but the children may be split between the two returns if you choose. Other things like mortgage interest paid can only be claimed by one spuuse. By filing separate you will generally owe and pay more taxes than filing Joint. ...