While some divorces are amicable, others are rife in resentment. In some cases, a spouse motivated by a combination of greed and anger may squander marital assets in an effort to prevent the other from getting their fair share in a divorce settlement.
It could be a matter of running up credit cards, gambling, or extraordinary spending – perhaps even for a new love interest. Those who are high earners in the marriage have little to lose when trying to exact revenge on a lower earning spouse.
In Illinois, dissipation occurs when one spouse uses marital property solely for their benefit while the marriage is unraveling, typically to the disadvantage of the other spouse. Dissipation may also come into play in cases where a failure to make mortgage or tax payments triggers the foreclosure of the marital home. Unfortunately, there are a host of negative actions a vindictive spouse could undertake to sabotage the financial future of the other.
Fortunately, there are measures you can take if you suspect your spouse will retaliate against you in a divorce. Many states including Illinois can provide a degree of protection against the dissipation of your marital assets by issuing a temporary restraining order to prevent either spouse from changing the financial status quo of the marriage once the divorce begins. Those who violate an order will not only face legal consequences, but will also have to make up for squandering marital assets when it comes down to determining the equitable division of property.
If you are considering divorce, you may have immediate concerns regarding your and your spouse’s shared finances, assets and debt. The best advise is to sit down with an experience divorce lawyer to discuss what you can do to avoid problems during the divorce and strive for a good outcome when the divorce is finalized. Contact the Law Offices of Ronald L. Bell PC for answers to your questions on planning for a divorce today at 847-495-6000.