When a couple is unable to reconcile their marital differences, it may be months before a couple files for divorce and even more time to finalize a divorce once the process is initiated. During the period of irreconcilable breakdown of a marriage, but before the divorce is finalized, one spouse may be concerned about the other spouse’s spending also known as dissipation of marital assets.
Dissipation is the spending of marital monies for the benefit of one spouse for purposes unrelated to the marriage while the marriage is on the rocks with no chance of reconciliation. When a spouse believes the other party to the marriage is squandering assets, the spouse alleging dissipation must first demonstrate dissipation of marital funds has occurred, putting the burden on the other spouse to prove that the money was used for purposes beneficial to both. Furthermore, the spouse making the allegation must show that dissipation took place during a period when there was a breakdown of the marriage. If it is proven that dissipation occurred, an adjustment to the division of marital property may be in order.
Infidelity and the Dissipation of Marital Funds
A common reason married couples divorce is because of infidelity. As a general rule of thumb, maintaining an affair may result in dissipation if the marriage is in a state of irreconcilable breakdown when the spending occurs, often after the discovery of the affair. If, on the other hand, a spouse secretly carries on an affair over many years – wining and dining at will – while continuing to live as man and wife, there is no dissipation because the marriage was not irretrievably broken when the money was spent.
A Case for Increased Alimony
Sometimes a party to a divorce may be counseled to spend extravagantly to show a higher standard of living/higher expenses in order to increase a potential spousal maintenance award. However, a case of dissipation of marital assets can easily be made if a spouse suddenly starts spending money after the marriage breaks down simply by combing through a couple’s financial history. If a spouse believes that the other spouse is dissipating marital funds before their divorce is finalized, it is important to discuss your concerns with an experienced attorney promptly.
Contact a Libertyville Divorce Lawyer for Help
If you have questions regarding marital property division in a divorce as it relates to the dissipation of marital assets, contact Attorney Ronald L Bell & Associates for immediate assistance at 847-495-6000.