- Jurisdiction
- Florida
We live in Fort Lauderdale, Florida. A lawsuit is going on since January 2013 with my former colleague.
My wife and I have a joint checking account since 2011. This Joint Account (JA) is: "Joint with right of survivorship".
I have a Personal Savings (PS) account on my name alone. Until few days ago, my wife has no other account (joint or personal) except the JA account with me.
My salary was directly deposited in JA. My wife has no job and she takes care of our children.
We were paying all our living expenses from the JA account.
Since January 2013, I moved 70000 dollars, at various times, from JA into my PS, promising my wife that I will pay back her joint share (in those transfers) later on. Except keeping some minimal amount to run the house, I have been transferring all the remaining money from JA to PS. This is the practice I have been doing since 2012, promising my wife that I will pay back her share (50%) later on, whenever she wants, without interest.
In January 2014 my wife brought some property on her name alone, worth 20000 (I transferred this 20000 from the PS to JA then she purchased that land on her name using this money). In addition to this 20000, I transferred another 10000 from PS to JA in January 2015, using which my wife bought some gold items for herself.
Last month, we both together opened a TBE account and my salary is getting deposited into that TBE (we did not move any money from any other account to this TBE account).
Just a few days ago, I transferred all the remaining money (40000 i.e., (70000 – (20000 + 10000)) from my PS to JA. Then my wife moved that 40000 money to her personal account which she created recently.
In my wife's personal account (which she created a few days ago), there is no money except the money (40000) I/she transferred from the JS. She is planning to buy some property.
If I lost the lawsuit, how much money will legally goes to the creditor (from the money my wife currently has: 40000), if the creditor files fraudulent transfer claim and the award is far more than 40000?
If my wife spends any money from that 40000 just to run the house, how it will change the amount of money the creditor can get (from that 40000).
I have no other property or income (except my job, which is protected from any garnishment because of head of house hold excemption)
Any information is helpful. Please advice.
My wife and I have a joint checking account since 2011. This Joint Account (JA) is: "Joint with right of survivorship".
I have a Personal Savings (PS) account on my name alone. Until few days ago, my wife has no other account (joint or personal) except the JA account with me.
My salary was directly deposited in JA. My wife has no job and she takes care of our children.
We were paying all our living expenses from the JA account.
Since January 2013, I moved 70000 dollars, at various times, from JA into my PS, promising my wife that I will pay back her joint share (in those transfers) later on. Except keeping some minimal amount to run the house, I have been transferring all the remaining money from JA to PS. This is the practice I have been doing since 2012, promising my wife that I will pay back her share (50%) later on, whenever she wants, without interest.
In January 2014 my wife brought some property on her name alone, worth 20000 (I transferred this 20000 from the PS to JA then she purchased that land on her name using this money). In addition to this 20000, I transferred another 10000 from PS to JA in January 2015, using which my wife bought some gold items for herself.
Last month, we both together opened a TBE account and my salary is getting deposited into that TBE (we did not move any money from any other account to this TBE account).
Just a few days ago, I transferred all the remaining money (40000 i.e., (70000 – (20000 + 10000)) from my PS to JA. Then my wife moved that 40000 money to her personal account which she created recently.
In my wife's personal account (which she created a few days ago), there is no money except the money (40000) I/she transferred from the JS. She is planning to buy some property.
If I lost the lawsuit, how much money will legally goes to the creditor (from the money my wife currently has: 40000), if the creditor files fraudulent transfer claim and the award is far more than 40000?
If my wife spends any money from that 40000 just to run the house, how it will change the amount of money the creditor can get (from that 40000).
I have no other property or income (except my job, which is protected from any garnishment because of head of house hold excemption)
Any information is helpful. Please advice.
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