Dissipation of Assets or Reasonable Spending: What is Marital Waste?
Property division during divorce is a contentious issue that couples must resolve before they part ways. The state’s statutes heavily influence the court’s decision regarding property division (be it equitable distribution or community property). Some divorcees, however, feel entitled to a larger portion of the marital funds, claiming that their soon-to-be-ex spouse’s financial mismanagement or irresponsible spending habits “wasted” their funds. Understanding the Concept of Marital Waste Marital waste refers to the intentional dissipation of assets by one spouse for their personal benefit. This occurs when one party squanders shared finances or other marital assets for designer clothing, extravagant vacations, and other lavish ventures. In...
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