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How your spouse’s financial misconduct could impact your divorce

On Behalf of | Jul 29, 2021 | High-asset Divorce

Until a Florida family court finalizes your divorce, you and your spouse will technically still share assets. Unfortunately, some people who feel bitter about their pending divorce will lash out at their spouse by using those financial ties.

In high-asset divorces, spouses can become angry about the financial implications of the end of their marriage. A spouse who has long been the wage-earner for the family may resent that a stay-at-home spouse will have a claim to income and assets that they didn’t directly earn.

A financially dependent spouse may want to punish their spouse by hurting them financially. How would that kind of misconduct impact your divorce?

Many attempts at financial punishment constitute intentional dissipation

Florida has an equitable distribution rule for marital property when couples divorce. The goal is to set terms that are fair. They will consider factors ranging from paid and unpaid contributions to the household and the health of each spouse to financial misconduct. The intentional dissipation of marital assets can drastically impact how the courts divide property in a divorce.

If one spouse gives away or destroys marital property, that may be dissipation. Even selling marital assets for less than their fair market value may be dissipation in the eyes of the courts. Racking up debt, emptying a savings account or otherwise intentionally trying to diminish the value of the marital assets you share could all affect the eventual property division order in your divorce. Even money spent on an extramarital affair can constitute dissipation.

Reviewing your financial records can help you spot signs of misconduct that could impact your rights in a high-asset Florida divorce.