What Happens If A Spouse Wastes Marital Assets Before Or During A Florida Divorce?

If you have a pending divorce case and your spouse has wasted or is wasting marital assets, you might be feeling frustrated and confused. You might be wondering if there is anything you can do to stop your spouse from wasting any more assets. You might also be asking yourself what will happen regarding marital property division. If you have a pending divorce case and your spouse is wasting marital assets, you should know that you have options to stop your spouse from wasting more marital assets. As to what will happen as it pertains to marital property division, the court may remedy the dissipation by awarding you more than half of the marital property. Read on to learn more.

Defining Wasteful Dissipation of Marital Assets

The term “dissipation of marital assets” is used to describe the intentional, unjustified, reckless waste of marital assets. Wasteful dissipation of marital assets comes in many forms. The following are some of the forms of wasteful dissipation of marital assets;

• Giving gifts to support an extra-marital affair
• Reckless gambling losses
• Unjustifiable and unreasonable personal spending
• Using money on illegal activity

Stopping Additional Dissipation of Marital Assets

If you have a pending divorce case and your spouse is wasting marital assets, you may be able to file a petition requesting the court to stop additional wastage. Under Florida Statute 61.11, a judge can order an injunction to stop a spouse from wasting marital assets. If you can prevent your spouse from wasting any more marital assets, you’ll be in a better position to protect your financial interests.

Remedying Dissipation of Marital Assets

According to Florida Statute 61.075, during a Florida divorce, the court is required to distribute marital property between the parties equitably. Equitable distribution does not mean a 50/50 share, but Florida courts are required to start with the presumption that the distribution of marital shares should be equal. The court can only order unequal distribution if it finds justification for such distribution.

One justification for unequal distribution of marital assets in a Florida divorce is the “dissipation of marital assets.” If you can prove the dissipation of marital assets on your spouse’s part, the court may award you a larger share of the marital property to compensate you for the damage.

However, it is crucial to note that if wastage occurred long ago, you might not be able to raise the dissipation of marital assets claim. According to Florida law, courts are only permitted to consider wastage that occurs while a divorce is pending or within two years before a divorce petition is filed.

Proving Dissipation of Assets in a Florida Divorce

Whether you want to stop your spouse from wasting marital assets or fight to be compensated, you must present enough evidence to support your claims. It is best that you seek the help of a qualified attorney. An attorney can assist you in collecting the evidence that can help you prove that your spouse wasted marital assets, including tax records and bank statements.

Contact a Jacksonville Divorce Lawyer

Contact our Jacksonville divorce lawyers at the Lasky Law Firm if you want to consult with an experienced divorce attorney.

Source:

leg.state.fl.us/statutes/index.cfm?App_mode=Display_Statute&URL=0000-0099/0061/Sections/0061.075.html