Managed funds usually exist to make the managers money.

That seems like alot of cash to travel with. Can you wire it to someone instead?

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Okay, thanks!

It was just a generic example, I am in 22% bracket. Thanks for the info, I wasn't able to find anything solid on this matter. Other commenters helped too. It's a bummer that my business is punished because of what I make working for someone else.

> When you enter a country

Or depart, in many cases

I understand the argument. I also understand that to underwrite a policy and provide documentation is to guarantee under penalty of law that a vehicle carries liability coverage at all times during a duration. Deciding you can stipulate against that requirement while providing guarantees is to be noncompliant at best. I’m just taking that to the logical conclusion of an underwriter taking fees while denying coverage that leaves a victim holding the bag, then putting out there that there should be multiple felonies attached to the underwriter and their agents. I understand you don’t want to understand what’s been done, but guaranteeing a vehicle to have coverage to a federal agency when in fact you do not could very easily be fraud.

When you enter a country you need to declare currency on hand above a certain amount. $10,000 certainly qualifies as requiring declaration

Thank you.

Only if cash is in play. Here are some examples if the loan is at a different bank from your regular bank:

• Bank A (loan) is withdrawn in cash of 10k or more - would need to be reported. Then you deposit the cash in bank B (your bank) of 10k or more - needs to be reported.

• Bank A (loan) is transferred to Bank B (your bank) - no report. Then you withdraw 10k or more in cash - needs to be reported.

• Bank A (loan) is transferred to Bank B (your bank) - no report. Then you transfer or write a check for 10k or more to do whatever you need - no report.

Reporting doesn't matter unless you're doing something illegal though. So if it's just buying something and you think it's better to pay with cash - you're likely fine. If you are doing something illegal, shame on you.

Well, that’s not a very fun story.

>Can you get a reliable car for $10k these days?

Probably. Perhaps not a mid-sized SUV with only 25,000 miles, though.

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>Any advice for him?

Might consider getting a second job. Not having any savings means he doesn't have any options.

He should work hard on interviewing for a replacement job if this one is insecure. He doesn't want to spend any time "between jobs" with no savings.

Figure out where all that $90k is going. Find a way to reduce expenses.

If traveling you will get into travel declaration requirements with customs. I'd look for alternatives besides traveling with large amounts of cash.

Thank you for the reply and we’ll wishes. Yeah I’m thinking if we go that route of keeping my name on the mortgage I would only allow a certain amount of years. We talked about 2 years with monthly payments and my name has to be off by X date.

Can you please explain more about that?

Don't forget to declare it at Customs.

It varies by state but even in states where they're legally obligated they sometimes try to get out of it by calling it an intentional act.

I don’t know if bank checks work everywhere because some countries use cash more than bank.

If your soon to be ex wife cannot afford it, you should both sell the house. If you want to give her a time frame to refinance, that would be fair.

You have to think of what you’d do if you meet and remarry in the future. Or even if you don’t, you may want to some day buy a home or make other financial choices in the future, your debt to income ratio will be affected.

What if she faces financial hardship in the future.

Too many problems that may arise if you keep yourself tied to this house.

Good luck.

In NY i rear ended some lady... driving on a suspended license. My insurance still had to pay out. -_-

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Bank is required to do the reporting for you.

Why do you need to move that much currency? Get a check or bank check.

For an event abroad.

Yes

You're welcome!