You may notice certain behaviors or financial activities by your spouse that could indicate marital asset dissipation or the intentional depletion of marital assets in anticipation of divorce. When this happens, it’s crucial to act quickly to protect your financial interests and ensure a fair division of assets.
Significant transactions made in bad faith to deprive you of your share of marital assets may constitute dissipation, especially if they coincide with marital discord or divorce. Here are some red flags to look out for.
1. Excessive spending and unaccounted expenditures
Extravagant spending by your spouse on luxury items, personal vacations or lavish gifts to family or friends using marital assets without your consent could point to dissipation. Similarly, spending large sums of money without valid reasons or making purchases that cannot be traced may indicate an intention to deplete marital assets.
2. Destruction or neglect of marital property
Intentionally damaging or neglecting marital property, such as a jointly owned business, home or vehicle, can be a sign of marital asset dissipation. Such actions that reduce the assets’ value can affect the asset pool available for division.
3. Risky investments and gambling
Investing substantial marital funds in high-risk ventures without your involvement can indicate dissipation. The same goes for irresponsible gambling, which can significantly deplete your marital assets.
Take informed action against marital asset dissipation
You are entitled to an equitable share of marital assets during divorce in Florida, and their dissipation is among the factors that weigh in during the asset-division process. Therefore, if your spouse engages in financial misconduct to have the upper hand or shortchange you, seeking informed guidance can help you understand your legal options for getting justice and protecting your financial interests.
