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What to Do If You Think a Spouse Is Wasting Assets

Wednesday, July 14, 2021

In divorce, the primary concern for many is not so much a spouse wasting assets, but hiding them. However, whether it is hiding an asset from the courts or knowingly wasting it, the court will label it as financial misconduct. Knowingly being wasteful with finances is seen as less of a worry, but often just as dangerous. It isn't something done out of greed, but rather it is done out of bitterness. It is a, "if I can't have it, you can't either," sort of affair.

Wasting Assets

Wasting an asset includes:

  • Selling at lower than market value
  • Giving to a friend, family, or lover
  • Intentional damage to an asset
  • Gambling assets away
If your spouse is doing any of the above, or other wasteful behavior, you may not see a lot of options, but the court can typically help.

What to Do If Your Spouse Wastes Assets

If you believe a spouse is wasting assets, the court can award you a larger share of the remaining marital assets as a sort of punitive measure for their behavior. However, you must be able to prove two things in the situation.

The first is that their behavior is actually being wasteful. For example, if your ex-spouse gave away a car to a member of the family, but that deal has been in the works for months before a divorce, that may not necessarily count against them.

The second issue is you need to prove knowing intent. If someone gives money to a friend, but they didn't know that should not be done during a divorce, the courts may excuse this behavior rather than take punitive measures.

Learn More About What to Do If You Think a Spouse Is Wasting Assets

If you are going through a divorce, this may be just one issue that you will have to deal with. Contact us today to see how the Law Office of Jamra & Jamra can help you navigate these rocky waters.