Money transfers with my wife

[Zigner]

Please let me know if my wife takes xyz amount of money from our joint JTWROS account, due to some reason she has, and with my permission, and later gave me back (directly to my personal account) half of that xyz then will it be acceptable according to Florida fraudulent transfer claims, specifically under 726.105(1)(a).

Please consult with an attorney - there's nothing more we can do for you.

 

[Taxing Matters]

Please let me know if my wife takes xyz amount of money from our joint JTWROS account, due to some reason she has, and with my permission, and later gave me back (directly to my personal account) half of that xyz then will it be acceptable according to Florida fraudulent transfer claims, specifically under 726.105(1)(a).

You are going to need to consult a Florida attorney. While the fraudulent conveyance laws of most states have the same basic concept, the details of them vary; each state has it own quirks. In most states, including Florida, property held JTWROS by a married couple is actually tenants by the entirety property (TBE) by default since the only difference in formation of JTWROS title and TBE is that in the latter the two people are married. So it may well be that the bank account is considered TBE property. That adds an additional wrinkle here since Florida law says that at least some transfers of separate property to TBE ownership may constitute a fraudulent conveyance. Bank accounts, though, are different from something like real estate because until the money is taken out you don't really know who ultimately controls the cash in the account. So the rule for transfers into and out of a TBE account may differ from, say, a transfer of separately held real estate to TBE ownership. You need to consult with a local lawyer familiar with Florida's fraudulent conveyance statute and the court rulings (case law) interpreting it.

 

[golow]

Thank you all very much, for providing wonderful responses despite my mistakes, errors, etc. This forum helped me a lot.