Safeguard Against Dissipation Of Assets In Your Stamford Divorce
When your spouse deliberately wastes or misuses your shared assets during a divorce, you may find yourself at a significant disadvantage. This wasteful behavior, known as dissipation of assets, is a serious issue that can have lasting consequences on an individual’s financial well-being. It can take many forms, from excessive spending and gambling to intentionally damaging property or giving away valuable items.
We at The Prince Law Group, LLC, have made it our mission to protect the rights of individuals going through divorce in Stamford and throughout Connecticut. We understand the emotional and financial toll that asset dissipation can take on a person. That is why we work tirelessly to uncover any instances of asset waste, helping our clients recover losses that may have occurred due to a spouse’s reckless actions.
How Will The Court Address A Dissipation Of Assets?
When dissipation occurs in a divorce, judges take decisive action to ensure a fair division of assets. The court’s primary goal is to rectify the financial imbalance caused by one spouse’s wasteful behavior. Typically, the court will adjust the division of remaining assets in favor of the wronged partner. This might mean awarding a larger portion of the marital property to compensate for the depleted marital funds.
As you go through the emotional challenges of divorce, it can be frustrating to see your hard-earned money go to waste. To present a clear case to the court, you need a trusted property division lawyer who will advocate for your interests.
What Is Considered Marital Waste In A Divorce?
Courts consider various behaviors as wasteful dissipation of marital funds. Some common examples include:
- Excessive spending on luxuries, including lavish vacations or expensive jewelry
- Paying off personal debts
- Making poor investments without the other spouse’s knowledge or consent
- Mismanaging funds through gambling or risky financial decisions
These actions can substantially impact the overall value of the marital estate, often putting one spouse in a worse financial position. If you suspect your partner has engaged in any of these behaviors, it is crucial to document and report them during divorce proceedings. As your legal team, our job is to help you gather evidence and present a strong case, ensuring that marital waste is properly addressed in your property division settlement.
How Do I Protect Myself Financially From My Spouse?
The sooner you take action to safeguard your finances, the better your position will be throughout the divorce process. Start by keeping detailed records of your shared finances, including bank statements, tax returns and investment accounts. Pay close attention to your spouse’s spending habits, noting any unusual or excessive purchases. If you suspect hidden assets or financial misconduct, consider working with a forensic accountant. Most importantly, partner with an experienced family law attorney to negotiate a fair settlement on your behalf.
Reclaim Your Fair Share Of Your Marital Assets
Do not let your spouse’s wrong behavior jeopardize your financial future. Reach out to our office today by calling 203-653-8483 or filling out our online form to schedule your first consultation. Let us help you secure the financial stability you deserve as you move forward.