Determining the division of your marital property is a crucial aspect of your divorce process. In Georgia, courts aim for an equitable distribution of assets.
A spouse may attempt to hide assets, deplete marital finances or give away property out of spite. This behavior can significantly affect the outcome of your settlement.
Is your spouse wasting money?
Marital waste, or dissipation of assets, refers to an intentional reduction of marital holdings by one spouse. Once you file for divorce, the law prohibits both you and your spouse from transferring ownership of assets until the divorce is final. If you feel your partner is actively trying to prevent you from getting an equitable share of your marital property, you need to act quickly to protect yourself.
Have you noticed problematic behaviors?
Some common ways spouses attempt to change the divorce settlement include:
- Giving away assets to family or friends
- Not making mortgage or auto loan payments, resulting in foreclosure or repossession
- Gambling with available funds
- Spending money on an extramarital affair
- Depleting bank account balances by purchasing trips, event tickets, alcohol or drugs
How can you prove marital waste?
If you can prove your spouse’s actions affect your case, the courts will consider splitting assets accordingly. To prove dissipation, you must show evidence that your partner deliberately spent or squandered money or property in anticipation of the divorce proceedings. You may have a legal right to additional shares of your marital property if the court finds that dissipation of assets has occurred.
It is essential to understand the equitable division laws in Georgia and take action right away if you suspect your spouse is striving to prevent you from getting your fair share of marital property.