Divorce can stir up a wide range of emotions, including anger, resentment, and betrayal. Some divorcing spouses take out their anger on the other spouse by intentionally wasting or destroying marital property in an act of revenge. For example, a spouse infuriated at the thought of divorce may throw the other spouse’s personal property in the trash, drain the joint checking account at the casino, or spend thousands of dollars on luxury items.
If you are getting divorced and your spouse has wasted marital assets or funds, It is important to be aware of your legal options. In this blog, we will discuss the types of wasteful spending that constitute dissipation of assets and how a dissipation of assets claim can help you recoup the value of wasted, destroyed, or lost assets.
What is a Dissipation of Assets Claim?
A dissipation of assets claim addresses reckless spending or intentional destruction of marital property during the divorce process. If a spouse is found to have dissipated assets, the court will consider this dissipation when dividing marital property. The spouse who dissipated assets may receive a proportionately lesser share of the marital estate, while the spouse who did not dissipate receives a greater share of the remaining marital estate.
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