Understanding Intentional Dissipation of Marital Property During Divorce
Many people divorce due to financial issues. Sometimes, couples simply have trouble making ends meet and this causes friction during a marriage. On the other hand, sometimes money is intentionally wasted. The intentional dissipation of marital property occurs when one spouse spends money intentionally in an effort to prevent the other party from receiving it during divorce. Essentially, one spouse removes property from the marital estate so it is not subject to division by the court.
In the majority of cases, neither spouse can transfer property from the marital estate after the divorce case has been filed. If either spouse attempts to do this, they can be held in contempt of court. Below, our Tampa family law attorney explains further.
How Does the Dissipation of Marital Property Happen?
The dissipation of marital property can happen in a number of ways. For example, if one spouse knows they are going to file for divorce soon, they may intentionally deplete a bank account they share with their partner. Additionally, a spouse may transfer valuable property out of the marital estate before filing the divorce petition. A very common way dissipation of marital property happens is when one spouse spends a great deal of money on an extramarital affair.
Regardless of how dissipation of marital property happens, it is a matter the courts take very seriously. When one spouse is found to have dissipated marital property, it will have a significant impact on the equitable distribution of marital property when issues in a divorce case are being resolved.
What to Do After the Dissipation of Marital Property
During divorce, the marital estate must be divided among the two parties. In Florida, marital property is divided fairly. In the majority of cases, the courts will try to divide the property equally, but that is not always the case. The courts will take many factors into consideration when dividing the estate, including the dissipation of marital assets.
When a family law judge determines that a marital state should not be divided equally, they must provide specific findings based on the evidence that was presented throughout the dissolution. For example, if you can show that your spouse transferred the funds from a joint bank account to an account in their name only, that can establish the dissipation of marital assets. In order to compensate you for the dissipation and hold your spouse accountable for their actions, the court may not award an equitable, or fair, distribution of marital assets.
Our Family Law Attorney in Tampa Can Help Intentional Dissipation of Assets
Anyone going through a divorce has the right to be treated fairly. Unfortunately, the feelings of resentment during the process can result in one’s rights being infringed upon. If you believe you have not been treated fairly by your spouse, our Tampa family law attorney at Florida Law Advisers, P.A., can prove your case to ensure your rights are protected. Call us now at 1 (800) 990-7763 or contact us online to schedule a consultation and to get the legal help you need.
Source:
leg.state.fl.us/statutes/index.cfm?App_mode=Display_Statute&URL=0000-0099/0061/Sections/0061.075.html
