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Thinking about spending everything before your divorce? Read this

On Behalf of | Jul 23, 2020 | Property Division

You’re more than just hurt over your spouse’s behavior and request for a divorce. You’re furious. You feel used and betrayed, and you aren’t really interested in splitting your assets fairly. In fact, the thought has occurred to you that you should just sell everything of value that you own, empty the bank accounts and go on a lavish spending spree or an extended vacation.

Don’t do it. When people take revenge on their spouses in a divorce by intentionally spending all of the marital funds in an unnecessary manner, that’s called the dissipation of assets — and it can get you in big trouble with the court.

What does dissipation of assets look like? Some of the most common examples include:

  • Selling items of value for far less than they are worth (like offering up your motorcycle to a friend for a $1 or selling your sports car for a quarter)
  • Blowing all of the money in your bank account or running up the credit cards at the blackjack table of a casino
  • Going on a decadent spending spree
  • Using the marital money to buy lavish gifts for a friend, relative or romantic interest or funding your new romantic partner’s living expenses

More than likely, the court will impose a temporary order that officially forbids you from dissipating the marital assets as soon as the divorce is filed. Nonetheless, you can still encounter problems if you rush to empty the bank account before the court has a chance to act. You could find yourself facing painful sanctions.

If you’re headed for divorce, don’t act rashly. An experienced attorney can help you avoid problems.