When they feel like their spouse has dissipated marital assets, it can make the process more difficult to get through. Dissipation is spending money that should have been used for family expenses on things like cars, vacations, or other discretionary items. Brian A Grady Divorce Attorney Kane County IL is here to help. He has the financial background and experience to make sure your financial future is secure. Contact our law office at (630) 351-4466 for a consultation.
Dissipation is a tricky issue in divorce
While dissipation of assets is not as common as it once was, it does happen. In fact, the most common way for dissipation to occur is for one spouse to use cash that should have been used for family expenses. This can be addressed through careful planning and oversight by both parties before and during marriage.
Dissipation of marital assets in a divorce in Illinois is a complicated issue because it can be difficult to prove that an individual has dissipated their share of the marital estate. A party may have used the assets for personal use or hidden them from their spouse, but these actions may not necessarily constitute dissipation. Imagine that one spouse buys a new car with their own money and charges it on their credit card without telling the other spouse. When they are getting a divorce, it can be difficult to prove that it was done maliciously or with intent to deprive their partner of money.
If you believe your spouse intentionally and wrongfully used marital money, you will need a lawyer with financial acumen to help you. Brian A Grady Divorce Attorney Kane County IL has the financial background and the passion to help you.
Common forms of dissipation
The most common forms of dissipation include:
- Hiding money or other assets from the court during divorce proceedings
- Using marital funds to purchase goods or services unreasonably beyond one’s needs and level of wealth
- Spending marital money on a paramour for trips, jewelry or luxury items, cars, or gifts
- Excessive gambling, drinking, or reckless spending
- Transferring assets without the consent of your partner
The Illinois Dissipation Statute allows you to recover these funds and Brian A Grady divorce attorney Kane County IL is here to help. In Illinois, if you believe that your spouse has dissipated marital assets, you may present evidence of this when getting a divorce and it can be considered for the final settlement or judgment.
Contact Brian A Grady divorce attorney Kane County IL for a consultation
Evidence of dissipation can include bank statements and credit card statements as well as other financial records. If you have access to these, make sure you organize them and provide them to your lawyer. When you are divorcing and assets need to be divided, dissipation may be considered. If you believe that your spouse has dissipated marital assets, contact Brian A Grady divorce attorney Kane County IL and he will do everything he can to secure your financial future.
