Sale of Marital Assets for Living Expenses

Sale of Marital assets

Are you looking to sell some of your Marital assets? Be careful, as there is a difference between purposefully wasting or dissipating a marital asset and using assets to pay for reasonable living expenses and attorney fees for your dissolution of marriage action.

If you are in a situation where your spouse is not paying household expenses, and you need funds for attorney fees it is permissible to use/sell marital assets to cover these costs. You should, however, keep proof

of all of your expenses so you can prove the necessity and avoid the appearance that you are wasting, dissipating, or even hiding assets.

If you have an attorney and find yourself in a situation where you need to sell assets, be sure it is a permissible use of the funds.  An attorney can file Motions to obtain attorney fees and/or support if you would otherwise qualify.  

On the other hand, if you are concerned that your spouse may be wasting or dissipating assets intentionally without the need, you will also want to bring this to your attorney’s attention in order to preserve assets that cannot be returned (sale of assets, cashing in a retirement account, etc.).  A judge has the jurisdiction to freeze accounts to avoid waste or dissipation.

For more information regarding your particular case facts you should consult an attorney.

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