How to Access Frozen Funds After Divorce: Procedures and Timeline?

Question from Mzwish, How to Access Frozen Funds After Divorce: Procedures and Timeline?

Answer from AI:

To assist your friend in accessing her funds after a divorce judgment, here is a structured approach:

1. Understanding the Frozen Account: The account was likely frozen during the divorce to prevent asset depletion. Now that the judgment is in her favor, the freeze should be lifted, but the bank may need official notification.

2. Court Documentation: She should obtain a copy of the divorce judgment and any specific court orders, such as a writ of execution or turnover order, to present to the bank. This documentation compels the bank to release the funds.

3. Bank Communication: She needs to provide the bank with the court documents. If the funds were transferred to a new account, she should check if she needs to set up access or provide transfer instructions.

4. Joint Account Considerations: If the account was joint, the bank might require both parties’ consent. However, with a court judgment, she may access the funds without her ex-husband’s approval, possibly requiring a court order.

5. Processing Time and Fees: Banks have their own timelines and may charge fees. She should inquire about any processing delays and potential fees associated with releasing the funds.

6. Legal Consultation: Consulting her attorney is crucial to ensure all legal steps are correctly followed and to address any delays or issues that arise.

7. Proactive Follow-Up: She should maintain communication with both her attorney and the bank to ensure timely processing and resolve any documentation issues promptly.

By following these steps, your friend can efficiently navigate the process of accessing her funds post-divorce judgment.