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Fast Cars, Botox and Designer Handbags

So what happens during the course of divorce proceedings when a financial settlement is being explored and you suddenly discover that savings or other family investments have been plundered by your estranged husband or wife in order to fund a lavish life style?  Some examples are as follows:

  • Drugs/alcohol misuse
  • Fast Cars
  • Expensive new partners
  • Gambling
  • Plastic Surgery
  • Gifts to children/family members/new partners

The Court will look carefully  at the nature of the expenditure and the question that will be asked is whether the spending is reckless or wanton.  If this is found to be the case then inevitably the expenditure that has taken place will be added back into the matrimonial asset pot available for division to compensate the other party. Through a reattribution of assets, the Court is simply making an adjustment to the financial award that prevents one party from being prejudiced by the misconduct of another.

If you are going through a divorce and any of the above may apply to you, it is important to obtain legal advice from a Family Lawyer to ensure that you don’t lose out.

Monday, October 14th, 2013 Divorce

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