What Can I Do If My Spouse Is Wasting Our Money During a Divorce?
Disagreements over finances are one of the leading causes of divorce in the United States. Animosity can only grow if the couple is heading down the road to divorce and one spouse is intentionally spending the couple’s assets wastefully. This practice, known as dissipation, can be considered by the court during the divorce process and impact the final order from the judge.
Dissipation in Illinois Divorce Cases
Illinois is an equitable distribution state for dividing marital assets during a divorce. Rather than splitting a couple’s assets evenly, each spouse will receive the amount that the court decides is fair based on a number of factors. When a spouse is accused of dissipation, they may be trying to waste a portion of the existing marital assets before the division has been finalized in order to deprive the other spouse of that asset. The action does not need to occur during the divorce process but during the time when the marriage has undergone “an irretrievable breakdown.” While it is difficult to stop such spiteful behavior before it occurs, the court can consider those actions when making their final divorce order.
Common Types of Dissipation
Some of the most common ways that a spouse might dissipate marital assets include, but are not limited to:
- Transferring or withdrawing large amounts of money
- Making large, unnecessary purchases
- Not paying bills that it was previously agreed they would pay. This could include mortgage, car, and tuition payments.
- Destroying property or allowing property to can be considered dissipation. This could consist of monetarily valuable items, heirlooms, or keepsakes, such as photographs.
- Losing large amounts of money gambling.
If you suspect that your spouse has been dissipating your assets, including through any of the means mentioned above, you should notify your attorney so that action can be taken in your divorce case. The court must be notified no later than 60 days before the trial ends or 30 days after the discovery process closes, whichever occurs later. The notice must include information about what property or assets were dissipated and when the purchase or other action happened. If they decide that the act constitutes dissipation, the judge may use the dissipation against your spouse when determining the allocation of your property in the final divorce order.
Plainfield Attorney for Protecting Your Financial Assets
The divorce process can be stressful enough without your spouse wasting your joint assets. Contact a Will County Divorce Lawyer who will represent you and fight to protect your marital assets. We will strongly advocate for you throughout the divorce process and protect your rights if dissipation is suspected. Call Reeder & Brown, P.C. at 815-885-5980 or contact our office online today for your free consultation.
Source:
https://www.ilga.gov/legislation/ilcs/documents/075000050k503.htm
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