Hollywood star Sylvester Stallone shot back at his former wife Jennifer Flavin in court papers by denying allegations of squandering their cash.&nbsp;According to Fox News, just months after the couple celebrated their 25th wedding anniversary, Flavin filed for divorce on August 19 in Palm Beach County, Florida, where the ex-couple owns a $35 million waterfront property. 
 
"The husband has not engaged in any conduct which constitutes intentional dissipation, depletion and/or waste of marital assets," wrote his attorney Jeffrey Fisher in court papers filed Monday. 
 
The declaration was made in response to Flavin`s claim that she should receive a larger portion of their divorce settlement because, in her allegations, the 'Rocky' actor engaged in various financial misdoings that diminished their combined wealth.In the declaration, Stallone and Flavin concurred that their marriage is "irretrievably broken."&nbsp; 
He did not object to Flavin`s desire to have her maiden name reinstated and asked that she cover her own legal bills. 
 
The 'Rambo' star is estimated to be worth $400 million from his movies, real estate dealings, and other ventures. Legal experts told Fox News Digital that if there is no prenuptial agreement that specifies otherwise, Flavin is entitled to 50% of any profits accrued during their marriage under Florida law. 
 
When Flavin and Stallone got married in 1997, she was 29 and he was 51. Flavin was a former model from the San Fernando Valley in California. The couple shares three daughters together.&nbsp;

Days before the divorce petition appeared on the court docket, there were indications that their marriage was in trouble. Flavin was photographed leaving West Hollywood`s Craig`s without her wedding band.&nbsp; 
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Hollywood star Sylvester Stallone shot back at his former wife Jennifer Flavin in court papers by denying allegations of squandering their cash. According to Fox News, just months after the couple celebrated their 25th wedding anniversary, Flavin filed for divorce on August 19 in Palm Beach County, Florida, where the ex-couple owns a $35 million waterfront property.

Hollywood star Sylvester Stallone shot back at his former wife Jennifer Flavin in court papers by denying allegations of squandering their cash. According to Fox News, just months after the couple celebrated their 25th wedding anniversary, Flavin filed for divorce on August 19 in Palm Beach County, Florida, where the ex-couple owns a $35 million waterfront property. "The husband has not engaged in any conduct which constitutes intentional dissipation, depletion and/or waste of marital assets," wrote his attorney Jeffrey Fisher in court papers filed Monday. The declaration was made in response to Flavin`s claim that she should receive a larger portion of their divorce settlement because, in her allegations, the 'Rocky' actor engaged in various financial misdoings that diminished their combined wealth.In the declaration, Stallone and Flavin concurred that their marriage is "irretrievably broken." He did not object to Flavin`s desire to have her maiden name reinstated and asked that she cover her own legal bills. The 'Rambo' star is estimated to be worth $400 million from his movies, real estate dealings, and other ventures. Legal experts told Fox News Digital that if there is no prenuptial agreement that specifies otherwise, Flavin is entitled to 50% of any profits accrued during their marriage under Florida law. When Flavin and Stallone got married in 1997, she was 29 and he was 51. Flavin was a former model from the San Fernando Valley in California. The couple shares three daughters together. Days before the divorce petition appeared on the court docket, there were indications that their marriage was in trouble. Flavin was photographed leaving West Hollywood`s Craig`s without her wedding band.

Sylvester Stallone denies 'wasting' marital assets in response to Jennifer Flavin's divorce filing

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Sylvester Stallone denies 'wasting' marital assets in response to Jennifer Flavin's divorce filing