Your spouse may be wasteful or reckless with marital assets in anticipation of a divorce. They could, for instance, excessively spend money on gambling, luxury items or expensive vacations without your consent, transfer assets to friends or family members or even deliberately damage marital property to reduce its value.
When this happens, it can considerably impact the distribution of assets. You may end up shortchanged if there are fewer marital assets to divide with your spouse. Here is what you can do to protect your financial interests.
Gather relevant evidence
Document any suspicious financial activity in the build-up to or during the divorce. Collect bank statements, credit card bills and receipts that show unusual spending patterns and record any large purchases, asset transfers or cash withdrawals your spouse makes without your consent. Demonstrating your spouse’s spending was intentional and in bad faith with solid evidence can help your case.
Act quickly to mitigate the damage
Take swift action to address the matter before it gets out of hand or causes irreparable financial damage. Inform the court of your concerns as soon as possible and consider taking immediate steps to protect the remaining assets, like an injunction barring your spouse from further significant transactions without your consent or a court order.
Remember, the law is on your side if your spouse’s financial misconduct eats into the marital estate. You are entitled to a fair share of it, and the court may award you a bigger portion to achieve fairness under Pennsylvania’s equitable distribution law.
Learning more about your rights and leveraging qualified legal guidance can help you effectively respond to such situations and increase the odds of achieving a fair divorce settlement.