In a divorce, the court will divide marital assets between the parties. Some factors may prompt the court to award more assets to one party than the other. One of those factors is the intentionally destroying, wasting, or dissipation of marital assets. This occurs when one party uses assets for their sole benefit before a divorce proceeding with the intention of keeping them from the other party. In this case, the other party may be awarded additional assets to make up for the asset that was intentionally removed. Our divorce lawyers in Florida can provide legal guidance to help navigate the distribution of your marital assets. Contact us to schedule a free consultation!
What Spending Is Considered Wasteful In Divorce?
Not all pre-divorce spending is considered wasteful by the court. It must only benefit the person spending it. Spending that benefits the other party or children, such as household items, would not be considered wasteful. The spending party also needs to do so with the intent of keeping it from the other party, meaning the spending party must have knowledge of the pending divorce before the spending occurs. Typically, the court will assess if the spending is out of the ordinary for the party. If it is not, it will be difficult to correlate the spending to the divorce. Excessive or unusual spending will be brought into question, and what the money was spent on will help the court determine this. Common instances of wasteful spending include the following.
- Personal shopping spree
- Gambling and partying
- Purchases for or with another romantic partner
Schedule A Consultation Our Family Law Lawyers
If you suspect your spouse to be spending money or dissipating marital assets, consult your family law attorneys in Gainesville to see how it could affect your case. For more information about the distribution of marital assets, contact the experienced family law attorneys with Silverman and Mack, LLC for a free case consultation.
