What Should I Do if My Spouse Is Dissipating Assets?

 Posted on December 23, 2024 in Property Division

When a divorce turns bitter, the ensuing negotiations can become complicated very quickly. In the dissolution of a marriage, both spouses will have to disclose their assets to be appraised and divided up equitably. However, in some cases, one spouse might intentionally waste marital assets, an illegal act referred to as dissipation. If a judge finds that you have been made the victim of your spouse’s dissipation, you could be entitled to a greater share of assets in the divorce.

If you believe that your marital assets are being dissipated, you can take legal action to protect your financial interests. A DuPage County, IL family law attorney can help you uncover evidence and see that you are justly compensated for your losses. The lawyers at Davi Law Group are ready to hear your concerns and work towards the best resolution for you.

What Counts as Dissipation?

In short, dissipation refers to the misappropriation of marital assets for one spouse’s sole benefit. This can take many different forms, but one of the most common instances of dissipation is one spouse spending money on a new romantic partner in an affair. This is why legal professionals will often advise against dating during a divorce, as paying for dates, dinners, and gifts could be considered dissipation.

Other examples of dissipation during the breakdown of a marriage may include gambling with marital wealth or making lavish purchases that only serve one spouse. Furthermore, destroying marital property out of spite may also be grounds for dissipation, even if the spouse gained nothing from it.

Evidence Gathering

To make a case against your spouse for dissipation, you will need solid evidence to prove that your marital property has been wasted. This usually involves pinpointing a paper trail of any transactions that took place, such as receipts or invoices. This information can also be requested during discovery or under deposition to increase the chance of getting the truth out of the spouse doing the dissipating.

You might also consider documenting your bank statements, making note of any unannounced transfers or strange purchases from you and your spouse’s shared bank account. Witness testimony may be able to corroborate your claims of dissipation in front of a judge.

Talk to a Forensic Accountant

During a divorce, you might consider seeking professional insight to make sure your assets are safeguarded. If you suspect that dissipation has occurred, a forensic accountant can help identify any acts of dissipation by thoroughly tracing any changes in balance, looking at business records, retirement accounts, tax returns, income statements, and more. Furthermore, a forensic accountant can testify on your behalf in court, lending your case a higher degree of credibility.

Contact a Wheaton, IL Divorce Attorney Today

If you have any reason to believe your spouse is wasting marital assets, it is in your best interests to take legal action early while evidence can still be preserved. A DuPage County, IL family law attorney can be a trusted source of counsel during these stressful times.

Attorney Dion Davi at Davi Law Group has over 20 years of legal experience in handling complex divorces, including several years spent as an Assistant State’s Attorney for DuPage County. To schedule a free consultation with his office, call 630-657-5052 today.