Emotions can run high in a divorce, and some spouses play dirty. One spouse can try to drain joint bank accounts or max out credit cards before the divorce starts, hoping to walk away with more or leave the other scrambling to get by.
If you’re worried about this, it helps to understand what the law says and the steps you can take to protect your financial interests.
Courts don’t look kindly on it
New Jersey is an equitable distribution state when it comes to dividing marital property in a divorce. This means the court aims to divide assets fairly, although not necessarily equally. If one spouse deliberately wastes money meant to be split, the court can consider that when divvying up the marital assets.
The judge may, for example, give the other spouse a larger share of what’s left or assign more debt to the spouse who misused marital funds.
What can you do about it?
Start by documenting everything. Print bank statements, track spending patterns and save any communication with your spouse that hints at unusual or secretive financial activities. The more detailed your records, the better.
Filing temporary court orders early in the divorce to freeze certain assets or restrict large withdrawals out of joint accounts can also go a long way in preventing further harm as you sort things out.
Don’t wait too long
Timing matters if you suspect your spouse is spending marital funds in bad faith. Bring it up as soon as possible during the divorce — not afterward. It may be too late to salvage anything if you delay, and in most cases, courts won’t revisit a finalized divorce settlement just because you didn’t discover wasteful spending in time.
Take informed action to get justice
Proving your spouse’s financial misconduct in the lead-up to or during the divorce takes more than suspicion. It requires solid evidence and a clear understanding of how the law works. That’s one reason why having experienced legal guidance as you go into divorce can help you gather the proper documentation, present your case effectively and protect your financial interests.
