If my husband has a gambling problemand has spent all his assets, if we divorce does he get half of my assets?
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If my husband has a gambling problemand has spent all his assets, if we divorce does he get half of my assets?
I am thinking of divorcing my husband due to his gambling. He has cashed in his 401K, his savings, and all life insurance policies and has huge credit card bills, will I be responsible for half of his bills? and will he get half my 401K etc?
Asked on October 19, 2010 under Family Law, Minnesota
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 13 years ago | Contributor
I am sorry for your situation. I would suggest that you seek help from an attorney in your area as soon as you can just to start working on your strategy in all of this. Generally the court divides marital assets equitably, not necessarily equally. It sounds here like your husband "dissipated" assets by cashing in marital assets and gambling them away. The court should indeed take this in to account when deciding on your 401K plan. It does not seem likely that in this scenario they will award him what is left of your assets. And unless you were a co-applicant on the credit card, they are his problem not yours. Seek help. Good luck.
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