If your spouse is intentionally wasting marital property in anticipation of divorce, it can leave you with less than you are entitled to. Assets that should have been part of the marital estate and subject to division can disappear quickly, reducing what is available for distribution. Fortunately, the law is on your side when this happens.
Florida courts aim to divide marital property fairly under the state’s equitable distribution laws. If a judge determines that one spouse intentionally wasted marital assets, the court may compensate the other spouse during property division.
For example, if your spouse wasted marital assets worth $50,000, the court may award you a larger share of the remaining assets to offset the loss.
What counts as wasting marital property?
Wasting marital property can take many forms. Think of situations where one spouse spends marital funds for purposes that have little or no benefit to the marriage while harming the marital estate. Examples may include:
- Gambling away marital funds
- Spending large amounts on an affair
- Excessive shopping or luxury purchases
- Selling marital property below market value
- Draining retirement or investment accounts without justification
Timing also matters. Florida law allows courts to examine financial activity from as far as two years prior to filing for divorce, along with any questionable transactions during the proceedings.
Proving your spouse wasted marital assets
Documentation is key when you accuse your spouse of wasting marital assets. You must present financial evidence showing what happened and why the spending was improper for the court to intervene. Evidence like bank statements, credit card records, text messages, emails and even testimony from financial professionals can strengthen your case.
Reaching out for professional guidance in such a situation can help you act quickly to safeguard your financial interests and improve the chances of a fair property division.