Matt -
First and the new fields, FirstName and LastName, to your table (I will use Table1 as my table name). Create a new query and bring in Table1 from the show table window. Close the show table window. From the box in the upper part of the screen (that has table1 in the heading) find your FirstName field and double click on it - that will make it show up in the grid below. Do the same thing with the LastName field. Go up to "Query" on the menu bar and select update query. That will change the grid a bit as you will now have an Update To row. Under the FirstName field in the Update To row put:
Left([NameField],InStr([NameField]," ")-1)
Under the LastName field in the Update To row put:
Right([NameField],Len([NameField])-InStr([NameField]," "))
Now to run the query press the Red Exclamation Point on the tool bar.
Just a note make sure you change the name of the "NameField" in the expressions above to the name of your full name field.
If you have middle initials, middle names, names with more than one space in them - THIS WILL CAUSE PROBLEMS - use caution before you delete the full name field make sure an check the data.
GumbyD