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When it comes to gambling, it can be as addictive as any substance and it can lead to disastrous financial consequences.  If you suspect that your spouse is amounting gambling debts, then you may have to consider the option of filing for divorce.  That is the only way to really completely protect yourself from losing more money to a gambling addiction that isn't even yours.  This blog is written to very generally explain why a divorce may be the only way to protect yourself against a spouse's gambling addiction and potential losses, if you have questions about your particular situation, please do not hesitate to contact us by clicking on this link or by calling (248) 608-4123.

Why is Divorce the Most Definite Way to Protect Myself From My Spouse's Gambling Losses?

One possible resolution is to get a post-nuptial agreement, however, those are not always enforceable in Michigan.  In addition, there is really no way to stop the other spouse from taking money out of his or her own retirement accounts, taking loans against those accounts or potentially loans against the marital home.  The only actual way to stop the other spouse from potentially ruining your finances and credit is to actually file for divorce.. While this may seem like harsh advice, it is based upon years of experience as a divorce lawyer and the damage that I have seen gambling cause to not only the gambler but also the innocent spouse as well. 

The following is an example of a case where filing for divorce expeditiously saved my client from near disaster.  In this case, the client came to me and advised that while her husband and she had discussions about his issues and that he was going to stop, he did not appear to be able to control himself and she was very worried about the finances.  We filed for divorce and immediately obtained restraining orders that we sent to the retirement funds and brokerage accounts that were in his name to stop him from taking any money out of those accounts or taking loans against those accounts.  Less than a week later, one of the retirement fund administrators contacted my office to inquire about the restraining order as the spouse was attempting to take a large loan against his 401(k).  By filing for divorce and obtaining the proper restraining orders, we were able to stop him from taking money out of this retirement account.  This preserved her fifty (50%) percent interest in that retirement account and saved her a significant amount of money.

This is just one example of how filing for divorce can protect you against continuing gambling losses, if you have questions or concerns about your own situation, please do not hesitate to contact us to schedule a consultation by clicking on this link or calling (248) 608-4123;