It is becoming more common for married couples to keep separate bank accounts instead of creating a joint account. It seems to be a trend for younger couples who like to keep finances separate and each maintain control over their own money. However, if you have separate bank accounts and you end up getting a divorce, you should not assume that having separate accounts means it will protect your money during property division.
CNBC explains that it is not as easy as having separate accounts to keep your property separate. A judge may very well say that since you earned the money in the account during the marriage that it belongs to both of you, especially if you use some of the money from that account to pay household bills and expenses.
You may be able to claim some of the money as separate property, but that depends on how well you keep records. The court may look at your banking records to see who put money in the account and what you used that money for. This can give the judge insight into the legal status of the account.
It is important to note that having separate accounts is not a bad thing. It can help you to avoid common issues many couples have in a divorce where one partner has complete control over the finances, leaving the other partner in financial trouble until the court finalizes the divorce. Having your own account will at least guarantee that you have some money to survive until the court divides property.