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What is “Wasteful Dissipation” of Marital Assets?

The wasteful dissipation of marital assets can occur during the divorce process or during a marriage, sparking one spouse’s desire to dissolve the marriage. While expenses are a fact of life, wasteful dissipation refers to more lavish or reckless spending, squandering a couple’s savings or racking up an unreasonable amount of debt that cannot be paid.

Examples of Wasteful Dissipation

Not all spending is considered wasteful. Necessities like groceries, down payments on cars or homes, clothing, and other such expenses are not considered out of the ordinary unless done in extreme excess. The following are generally considered wasteful:

  • Gambling
  • Extravagant gifts for friends or family
  • Funds spent on an extramarital affair
  • Significant stock investments
  • Major business losses
  • New loans were taken out without a spouse’s approval or knowledge
  • Extreme spending from a couple’s joint accounts

If you believe your spouse is partaking in this type of irresponsible behavior, you must speak with an attorney immediately and take actions to prevent the continued frivolous spending of your spouse.

Freeze Your Marital Assets

In some cases, it is possible to seek the court’s help to put a stop to a spouse’s wasteful spending by obtaining a financial restraining order. For this, you will need to submit an emergency motion explaining the situation. In response, a judge might allow each spouse to spend a designated sum of money every month from their collective earnings, or prevent either spouse from selling or purchasing stocks, property, cars, or other assets.

When a Judge Determines Your Spouse Wasted Assets

If during the course of a divorce, a judge determines that your spouse wasted marital assets, whether through reckless behavior or out of spite to prevent you from getting your fair share in a settlement, your spouse will receive a lesser share of the assets to make up for the losses you suffered. If your spouse spent $70,000 on a lover, your alimony will account for the depleted funds.

However, proving dissipation can be quite difficult, but worth the effort of exposing. A forensic accountant can properly follow the money trail and look for red flags you might not know to check for. It is also crucial to hire an experienced and skilled divorce attorney. With these professionals at your side, uncovering your spouse’s financial misdeeds will be much easier, allowing you to obtain your share of the marital assets.

Divorce Attorneys in Rancho Cucamonga

Divorce is often a complicated and messy situation, especially when there is a lot of tension and anger between spouses. With a skilled legal advocate at your side throughout the process, you can rest assured your interests will remain protected. At Chung & Ignacio, LLP, our Rancho Cucamonga divorce attorneys are capable of doing exactly that. We are here to help you navigate your divorce with as much ease as possible.

Property division is a particularly contentious issue, which you should not have to face on your own. We have guided countless clients on these matters and can use our vast experience and knowledge to assist you with your own case. Let us take the legal burden off your shoulders so you are better able to focus on more important matters. Even if you are not in the midst of a heated battle, having an attorney at your side can ensure no costly mistakes are made as you begin this new chapter in your life. Do not risk your future. Contact our firm today to speak with our Rancho Cucamonga family law lawyer.

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