The decision to divorce usually comes after a period where marital relations break down over time, which might be months or years in the making. In fact, sometimes couples end up leading separate lives long before they initiate a divorce even if on the surface things appear to be copacetic.
When couples make the decision to divorce and start looking at the division of marital property, one party might feel that the other has squandered marital resources improperly leading up to the divorce.
A Spouse’s Spending Spree Before a Divorce
It may be that your spouse has been making extravagant purchases or has been traveling solo to far off places on the family dime with little regard for the consequences that may follow.
However, when one spouse uses marital resources for non-marital purposes, they may have “dissipated the marital estate,” which may require reimbursement for improper expenditures.
When dissipation occurs, the dissipating spouse owes the marital estate money. This may result in the other spouse receiving more assets when the division of marital property is determined.
As such, it is very important to be knowledgeable and keep documentation regarding family finances, especially when divorce is a possibility. Hiring an experienced marital asset division lawyer who will look out for your interests can help you to get a fair property settlement agreement so that you can move forward with confidence.
Contact a Dissipation of Marital Property Lawyer
If you have questions regarding marital asset division, contact the Libertyville Illinois Family Law Offices of Ronald L. Bell & Associates P.C at 847-495-6000 for more information.