We have discussed before how people will sometimes try to hide marital assets when moving toward a divorce. The goal is usually to keep from having to divide those assets properly with their ex. For example, someone may give money to a family member and instruct them to return that money after the divorce has been finalized.
But there is another issue that sometimes arises in these situations, which is the dissipation of marital assets. The goal is generally the same: to keep the person from having to split assets with their ex. But the way that they go about it is much different.
Wastefully spending marital funds
Essentially, the dissipation of marital assets means that someone is spending in a way that is out of the norm. Divorce can take months, so spending money is not prohibited. Couples still do have bills to pay. But when someone dramatically increases their spending, especially when they do so by purchasing things that cannot be refunded or divided, they could be trying to spend all of the money on themselves so that they do not have to split it with their ex during the divorce.
An example of this could be if someone is involved in a new relationship, and the affair ends their marriage. They then spend the next few months buying extravagant gifts for their new partner, taking trips, going out to eat at fancy restaurants and much more. Their goal is essentially to waste the money so they do not have to divide it, planning to earn it back after the divorce.
If you believe that your spouse is dissipating marital assets, it is critical that you know what steps to take to ensure that property division is done fairly.
