A joint bank or other financial account is an account in which two persons (spouses, for example) own the account and have equal rights to the funds or other financial assets in it. Joint accounts are generally marital or community property and subject to division upon divorce. Although either party may withdraw or spend the funds in the account, the divorce process (or the impending divorce process) creates additional legal issues and obligations for spouses accessing and using jointly-owned funds or other assets.

If a spouse empties, drains, or otherwise takes funds from a joint account in excess of the traditional use of the account, the court may (1) order such a spouse to return the funds to the account; (2) order such a spouse to pay fines, penalties, and the other spouse’s associated attorney fees necessary to secure the return of the funds or assets; and (3) adjust the division of the marital assets or community property to account for the spouse taking the funds or assets for the spouse’s own use.

And if a petition or complaint (lawsuit) for divorce has already been filed, the court may have issued an order requiring the parties to maintain the status quo (current status) with respect to deposits, withdrawals, expenditures, transfers, and sales from all such financial accounts. A spouse who violates the court’s order may also face civil or criminal contempt charges—a special type of sanction or penalty that may result in fines and confinement in jail. For these reasons, a spouse should talk to a family law attorney before taking any such actions with respect to joint (or other) financial accounts.

In Virginia, a joint bank or financial account is owned by two individuals, such as spouses, who have equal rights to the account's assets. These accounts are typically considered marital property and are subject to division during a divorce. If one spouse withdraws funds beyond normal use, especially during or in anticipation of divorce proceedings, the court may intervene. The court can order the return of funds, impose fines, cover the other spouse's attorney fees, or adjust the division of assets. Additionally, once a divorce petition is filed, courts may issue orders to maintain the financial status quo, prohibiting significant changes to the accounts. Violating such orders can lead to civil or criminal contempt charges, which may include fines or jail time. Therefore, it is crucial for a spouse to consult with a family law attorney before making any substantial changes to joint financial accounts during the divorce process.