Assumption: "Savings built up in one spouse's name during the marriage belong to that spouse alone."

Court Reality

Savings accumulated during the marriage are matrimonial assets, regardless of whose name the account is in. The name on the account does not determine ownership in financial remedy proceedings — the source and timing of the money does. Savings built during the marriage go into the pot to be divided fairly, and the parent with the children often receives more than half to meet housing and income needs.