WHAT IS WASTEFUL DISSIPATION AND HOW CAN IT AFFECT MY DIVORCE?
Spending habits are often a big point of contention for married couples and it can become an even bigger issue during the divorce process, especially if one spouse spent vast sums of marital assets to prevent the other from receiving a fair share. Ohio is an equitable distribution state, which means a judge will seek to split your assets as fairly as possible. If it is evident that your spouse wastefully dissipated assets, a judge would likely try to balance this situation out by awarding you a larger portion of the remaining assets.
However, a judge will only take this step if a substantial amount of money was wasted and you did not gain anything from the money spent. For example, if your spouse was cheating on you and purchased pricey gifts for a lover, this would likely be considered a wasteful dissipation of assets. If your spouse spent very little on an extramarital affair, only occasionally taking the lover out to the movies and buying lunch, it is unlikely a judge would consider this a wasteful dissipation of assets.
OTHER CASES OF WASTEFUL DISSIPATION
Your spouse does not need to waste money on a lover in order for the amount spent to be considered wasteful dissipation. There are several other examples of wasteful dissipation that can alter how property and assets are divided in a divorce case.
Below are some additional examples of wasteful dissipation:
- Selling property or businesses for less than they are worth
- Excessive gambling
- Purposely failing to protect assets
- Spending vast amounts of funds on alcohol, drugs, or partying
If you previously tolerated this sort of behavior from your spouse, you might not be able to successfully prove wasteful dissipation. Your spouse’s spending behavior should be out of the ordinary for a judge to consider it a waste of marital assets. If you are unsure if your spouse wastefully dissipated assets, consult with an attorney. In some cases, if only a small amount of money was involved, it would be less costly for you to raise this concern in court. An attorney can advise you on the best course of action.
SCHEDULE A CASE REVIEW WITH AN EXPERIENCED PROPERTY DIVISION ATTORNEY TODAY!
If you believe your spouse wastefully dissipated marital assets, you must discuss your case with a knowledgeable property division attorney. At Weis Law Group, we can investigate the details of your case to ensure you receive your fair share of marital assets. You worked hard to get to where you are in life and can count on our ability to protect your rights to the property you are entitled to.
Reach out to our law office today at (614) 732-5566 to schedule an initial consultation with one of our compassionate and experienced divorce attorneys and learn more about how we can assist you.