Question:

Hi, I live in Florida and have been married for 5 years now.  I am preparing for a divorce, but haven't filed yet.  About two months ago my wife served me with the paperwork, but she halted the case at my request so we could try to work it out.

Unfortunately, things are not  working for us.

She is not employed and never was.  The same day she filed for the divorce two months ago, she also withdrew all the money in our checking account and closed it.  Further, she advanced $2000 from our credit card for cash!

Question 1:  Can she take all the money we have just because her name is on both accounts?

Question 2:  I know in Florida she is entitled to half of whatever I have, including the overseas money transfers I did.  I have been transfering money to my family overseas for years, including during the marriage.  Is she entitled to all the money I have transfered, or is there a time limit such as 6 months or so?

Thanks!

Hosted by Dan Danford, MBA, CRSP

What can I do to improve my situation quickly?

Consolidate similar accounts.

One reason people fail financially is because they are overwhelmed by the monthly papers and statements.  It might take a few minutes, but transferring all IRA accounts to the same place makes it much easier to follow each month.  The same with other accounts.  Find a convenient place where you can consolidate all your mutual funds, stocks, bonds, and bank certificates.

Money Made Easy host, finance expert Dan Danford, MBA, CRSP, answers the age-old question of how to succeed financially.

Danford explains that it all begins with hard work, but the other two ingredients might surprise you.

Watch the video after the jump.

by Joseph Cordell, JD, CPA, LL.M

In this episode, Joseph Cordell discusses the role of businesses in serving as a tool to protect your assets.  From our video series, Cache Counsel: Executive Asset Protection. Click "Read More" to see the video.