Many married couples maintain joint bank accounts to simplify the process of paying bills, grocery shopping and handling kids’ expenses. However, things can get complicated pretty quickly when those couples decide to go their separate ways. If you are contemplating divorce, or if you have already started the process, you’ll need to start establishing your own individual bank accounts.
Naturally, you’ll need to talk to your Barrie divorce lawyer about the best time to open a new bank account and find out whether it will affect your case (particularly whether the amount that you have will affect the outcome of a spousal support case).
Opening a Bank Account During Divorce
When you choose to open a new bank account during your divorce, you’ll need to shop around for one that meets your needs. You may only need to write a few cheques per month or you might want to make several debit card purchases a week; you might also want to establish a savings account that you will not touch except during an emergency. Since most banks offer a variety of options, you can simply ask for literature that describes each account type when you’re making your decision.
What You Need to Open New Bank Accounts During Divorce
To open most bank accounts, you will need to bring two forms of identification which can include a Canadian driver’s licence, a passport or a Certificate of Canadian Citizenship or Naturalization. You can also bring a birth certificate, a Social Insurance Number card or a provincial health insurance card. Depending on your bank, you may need other forms of identification.
What to Remember with New Accounts
If you choose to change your name after divorce, you’ll need to notify your bank as soon as possible. They can issue you new cheques, debit cards and credit cards to reflect your name-change. Additionally, make sure you keep your Barrie divorce lawyer informed when you open a new account in case it may have an impact on your case.
