When should you establish separate accounts?

I guess I am really wondering when is the latest that you should. I make a lot more money than my wife, more out of lucky circumstances than line of work. We have a lot of expenses with house and kids; not really a problem with either of us making frivolous purchases. We have not separated yet but likely will by Summer. 2016 will almost certainly be a joint return. My thoughts are to wait until the beginning of next year unless things get ugly (I don’t expect them to). Is there a legal concern with joint accounts during separation? My understanding is that both parties have some legal resource if the other takes a large sum (will count against them at ED). Is this correct?

Correct, if either of you deplete a marital asset after you separate it can be corrected to some degree though equitable distribution. The best course of action is to reach an agreement before you separate so there is no question about how assets are to be used while you are separated.

Brilliant info…