Phillips & Mille Co., L.P.A. | Attorneys And Counselors At Law

Call Our Firm Today At: 440-243-2800

Phillips & Mille Co., L.P.A. | Attorneys And Counselors At Law

Call Our Firm Today At: 440-243-2800

Helping Clients Through the Legal Concerns Affecting their Lives

4 ways your spouse may try to dissipate marital assets

Divorce is never easy and can be even more stressful if your spouse dissipated marital assets. Unfortunately, a number of people consider doing some unethical and illegal things when going through a divorce, which may be detrimental to their spouse’s financial well-being.

Here are some common ways your spouse may try to deprive you of your fair share of marital assets.

Wasting marital assets

Your spouse may recklessly spend money or use it in a way that can diminish the value of the marital estate. Some common ways a person can waste marital assets is through gambling, spending marital assets for drug and alcohol abuse and making lavish purchases solely for their benefit.

Give away or sell properties at low prices

When your spouse sells or gives away property you both own, it can diminish the marital estate. Usually, people who do this have some arrangement with the other party so they are able to reclaim the asset later after the divorce. However, even if they don’t want to claim it later, you should still get a share of the asset.

Destruction of property

Your spouse can intentionally destroy matrimonial property just to harm you. Usually, your spouse may do this out of spite. One of the ways they can do this is by breaking or ruining items that you have an emotional attachment to.

Engaging in extramarital affairs

Your spouse may engage in other relationships to get back at you when the marriage starts to fall apart or during the divorce process. When spouses commit infidelity, they will most likely use matrimonial funds secretly to further their affair. For example, they may spend the money by paying for hotel rooms, taking trips or buying gifts.

If you suspect that your spouse is dissipating marital assets, Phillips & Mille can help you determine how to address the issue. Our experienced attorneys will examine the copies of your financial records to protect your financial interests during the divorce and ensure all assets are divided equitably.