The dissipation of marital assets represents a sneaky attempt for a spouse to avoid having the other spouse gain his or her rightful share. Such a development may surface in high-asset divorce cases through spending on lavish trips, extra-marital affairs, gambling and even controlled substances.
The high-earning spouse decides that squandering a portion of the family fortune is in his or her best interest, thus mocking the legal system and the estranged spouse. This is troubling but there are ways to combat this immature and repugnant behavior.
Allies: an ATRO and forensic accountant
By spending down marital assets, a high-earning spouse attempts to gain the upper financial hand against his or her spouse, knowing that he or she will have little difficulty in recouping those assets. The lower-earning spouse understands this disadvantage, especially having given up a successful career to raise a family. Any future earnings would be far less than those of the higher earner.
However, two things that may help in a dissipation of assets situation are an automatic temporary restraining order (ATRO) and a forensic accountant. An ATRO – which focuses exclusively on property — is a restraining order placed on both spouses.
An ATRO prevents each spouse from spending money that would upset and change the status quo of the marriage. As a result, marital assets remain intact.
Because dissipation of assets is difficult to prove, it is crucial in to retain a forensic accountant. This professional usually knows every dirty trick that financial schemers attempt to hide their assets. A forensic accountant has a keen eye for detail when reviewing financial records and can usually spot anything that is alarmingly suspicious.
Your marital assets, your fight
Do not take this behavior from your estranged spouse. Know that those marital assets also belong to you. Fight for what is yours with the help of some crucial allies, who would include a skilled divorce attorney.