Wife gives away all assets in bank


#1

Is it considered a breach of fiduciary duty for a wife to sign a gift document to a relative and give away all marital assets in credit union account? Is it considered economic fault?


#2

Depending on the details of your specific situation, an argument could be made that it is wasteful spending (a form of marital misconduct) for a spouse to gift marital funds from a bank account. Assets or funds acquired during the marriage are marital property (with the exception of inheritances) and generally either spouse can dispose of marital property or marital funds, except for when the spending or disposing of marital assets is wasteful or reckless.