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Separation and divorce

Joint accounts: What are your rights if you break up?

Joint accounts can be useful to share common expenses when you’re a couple. If you break up, however, it’s important to know your rights to protect the money in the account or recover money that’s been withdrawn.

What should you do with a joint account if you break up?

When you separate, you have to decide whether you’ll close the joint account or keep it active. Some people prefer to close it quickly to prevent their ex from withdrawing money without their consent. Others prefer to keep the account active for the first few months after their separation to manage some joint expenses that still have to be covered, such as children’s or household expenses.

Keeping the account active

If you decide to keep the account active, bear in mind that either of you can withdraw money whenever you want. The financial institution will not monitor any withdrawals your ex makes, even if it was notified of your separation.

Closing the account

If you decide to close the joint account, contact your financial institution to find out how, because each institution can have its own procedures to close an account. Some institutions could require both you and your ex to be at the branch in person, while others could allow you to close it alone or remotely.

You should also make sure that deposits made directly to your joint account are redirected to another account.

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Warning

The information presented on this page is not a legal opinion or legal advice. This page explains in a general way the law that applies in Quebec. To obtain a legal opinion or legal advice on your personal situation, consult a legal professional.

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