What Is Wasteful Dissipation Of Marital Assets In A Florida Divorce?
As you may know, Florida follows the equitable distribution law to divide property in a divorce. It means that all marital property is subject to equitable distribution between the spouses.
But what happens when one spouse is wastefully dissipating marital assets before or during the divorce case? Fortunately, if you can prove that your spouse wastefully dissipated assets, you are likely to get a greater share of marital property to make up for it.
However, you need to understand what wasteful dissipation of marital assets is and how you can prove it. Schedule a consultation with an Orlando property division lawyer to discuss the dissipation of assets in your divorce case.
What is Wasteful Dissipation of Assets?
Under Florida law, wasteful dissipation of assets refers to unjustified wasting of marital assets through unreasonable spending, gambling, gifts, and other uses unrelated to the marriage.
As a rule of thumb, you can raise a claim that your spouse engaged in wasteful dissipation of assets a short period of time before the petition for divorce is filed or while the divorce case is pending.
In other words, if your spouse wastefully dissipated assets during the marriage, but this occurred a long time ago before the divorce petition was filed, you might not be able to raise the dissipation claim.
Examples of Wasteful Dissipation of Marital Assets
Common examples of wasteful dissipation of marital assets in a Florida divorce include the following behaviors:
- Giving gifts and spending money on an affair
- Excessive spending
- Accumulating a tremendous amount of debt
- Unnecessary borrowing
How to Prove Wasteful Dissipation in a Divorce?
If you want to fight for a larger share of the marital assets because your spouse wastefully dissipated marital funds or assets before or after filing for divorce, you must be able to demonstrate convincing evidence to support your wasteful dissipation claim.
It is advisable to seek the legal counsel of an experienced attorney to help you gather the necessary evidence to prove that your spouse wastefully dissipated marital assets. Evidence that can be used to support your claim include:
- Credit card receipts
- Bank statements
- Financial records
- Tax records
If you have reason to believe that your spouse is engaging in excessive spending or is otherwise wastefully dissipating marital funds or assets, you need to take proactive steps to prevent your spouse from wasting any more of your money or assets.
You may be able to file a petition asking the court to issue an injunction that would prohibit your spouse from dissipating the marital funds while the divorce case is pending.
You Need an Orlando Property Division Attorney
Florida is an equitable distribution state, which means the couple’s marital property is divided in a fair and just manner. In other words, it does not mean a 50/50 split.
For this reason, courts have the discretion to consider a variety of factors, including the dissipation of marital assets, to determine what would be equitable and fair in your particular case.
A skilled property division attorney will be able to present evidence of wasteful dissipation of marital funds and assets in a compelling way to ensure that you are awarded a larger share of marital assets in a divorce.
Do not hesitate to speak with our attorneys at Donna Hung Law Group to discuss your situation. Call 407-999-0099 today.