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Divorce – the impact of spending to avoid sharing

Solicitors in London

Divorce – the impact of spending to avoid sharing

News article published on: 29th January 2020

When going through a divorce some decide to spend their money on fast cars and other luxury goods to avoid sharing with their partner.

Lisa Pepper, Partner, Family Law team at Osbornes Law commenting in the Daily Express Newspaper today urges caution as spending to avoid sharing will be expensive.

Lisa said “The only way to get this money back is by going to court and if you lose you could pay the other side’s costs”, “Those that empty a joint bank account could intensify the conflict and affect the court’s view on your actions.”

Lisa went onto advise “It may be appropriate to transfer all of any joint funds into an account in your sole name, rather than moving the whole lot. Think carefully about overdraft and credit card limits too. Only a judge has the power to prevent the draining of joint funds, so in these circumstances you need to push your divorce through quickly.”

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