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Don't let dissipation of assets impact a divorce settlement

Very few Florida spouses spend a considerable amount of time thinking about whether or not their partner has intentionally depleted their shared wealth. In reality, however, this is an issue that arises more often than man people think. Dissipation of assets is a real concern for many, and it is something that spouses should guard against as they enter into the property division portion of their divorce.

One of the primary ways that dissipation of assets takes place is when one spouse has an affair and uses marital funds to pay for that dalliance. In some cases, significant sums of money are spent maintaining a secret lover, much to the distress of the faithful spouse who only learns of the activity once a divorce is underway. Fortunately, it is possible to right such wrongs by negotiating a settlement that offsets the expenditures.

In order to do so, however, it is necessary to obtain proof that marital wealth was used to support the extramarital affair. This can come in the way of bank or credit card statements showing purchases used for the affair. In some cases, excessive withdrawals of cash can also be used to show dissipation of assets.

No matter how a wronged spouse chooses to move forward, it is important to be fully aware of one's rights under Florida law. Working with a divorce attorney can help an individual chart a course of action. It can also provide the peace of mind that comes with knowing that one's interests are being properly looked after.

Source: Forbes, "What Is Dissipation Of Assets In Divorce And What, If Anything, Can You Do About It?", Jeff Landers, Nov. 1, 2016

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The Law Office of Gustavo E. Frances, P.A.
200 S.E. 6th Street, Suite 402
Fort Lauderdale, FL 33301-3424

Toll Free: 866-435-4172
Phone: 954-703-4207