I think my spouse is spending our money recklessly and extending our line of credit. Is there anything I can do to stop him/her?

Yes there is. You can bring an application under s. 7(1) for equalization of property pursuant to s. 5(3) due to the improvident depletion of your spouse’s net family property. Essentially, this section will allow you to bring the claim for equalization despite the fact that you and your spouse are still cohabiting. However, in order for the claim to be successful there must be a “serious danger” of improvident depletion. You should be aware of the fact that an equalization payment will only be made once, therefore if you and your spouse do eventually decide to separate and/or divorce you cannot bring an application under s. 7(1) for a second equalization as only one is permitted. See: s. 5(4).