Skilled Divorce Attorneys Addressing Dissipation of Marital Assets in Wheaton, IL
When a marriage begins to crumble, it is not uncommon for one spouse to engage in the wrongful spending of marital assets. This is legally referred to as dissipation. If you are concerned about how your spouse's actions may affect your finances during your divorce, schedule a consultation with a lawyer at one of our area offices to discuss your specific situation.
The DuPage County divorce attorneys at Musielak & Rosinski LLC have vast experience guiding clients through even the most complex and contentious divorce proceedings, including cases involving the dissipation of marital assets. Our lawyers are skilled mediators and accomplished trial litigators. If necessary, we can work with forensic accountants and business experts, and we will perform a careful and thorough examination of your assets to uncover any irregularities. Trust our firm to aggressively fight to protect your assets and stabilize your financial well-being.
What Is Dissipation of Marital Assets?
Dissipation is the term used to describe the use of marital property for the sole benefit of one spouse. The benefit must be unrelated to the marriage and must occur while the marriage is undergoing an irretrievable breakdown. Whether dissipation has occurred will be determined by the trial court based on the evidence. Dissipation can result from frivolous spending, gambling, or other unnecessary or inappropriate uses of marital assets. These improper expenditures will be calculated by the trial court.
A spouse who has been accused of dissipating marital assets has the burden of proving that the use of the marital assets was for a marital purpose. If the court determines that they dissipated marital assets, they may be required to reimburse the marital estate for the value of the assets that were wasted or lost. If this will not be possible, the other spouse may receive a larger share of assets when marital property is divided.
Common Examples of Dissipation in a Divorce
Dissipation can take many forms, but it generally involves one spouse spending marital funds for a purpose that has nothing to do with the marriage once the relationship has begun to fall apart irreparably. Spending large sums on an affair, including gifts, trips, or hotel stays, is one of the most common examples courts encounter.
Excessive gambling losses, particularly when they occur after the marriage has clearly deteriorated, can also qualify as dissipation. Reckless or unexplained spending on luxury items, unnecessary business ventures, or transfers to friends or family members without any legitimate purpose can raise similar concerns. In some cases, a spouse may attempt to hide funds by depositing money into accounts the other spouse does not know about, which can later be treated as dissipation if the money cannot be accounted for.
Not every questionable purchase amounts to dissipation, since courts look specifically at the timing, purpose, and pattern of the spending in question.
Protecting Yourself From Dissipation Before It Happens
If you are afraid of losing assets to your spouse's wasteful actions, keeping thorough financial records throughout the marriage, including bank statements, credit card statements, and receipts for large purchases, can make it easier to identify unusual spending if a divorce becomes likely. Reviewing joint accounts regularly, rather than only after separation, can help you notice changes in spending patterns before they escalate.
If you suspect your spouse may be preparing to dissipate assets, contacting an attorney early can help you take steps to protect your interests, such as requesting a temporary restraining order to limit further spending. Acting quickly once dissipation is suspected can help preserve more of the marital estate for division.
Contact Our DuPage County Asset Dissipation Attorneys
To arrange a free consultation, call 630-344-6525 or contact our Wheaton, Illinois asset dissipation lawyers. With offices in DuPage County, Musielak & Rosinski LLC has experience helping clients throughout Illinois.