Many Arizona residents are shocked by the manner in which their soon-to-be exes behave during the end of a marriage. Divorce tends to bring out the worst in people, and nothing creates greater contention and bitterness than matters of money. For some spouses, an overwhelming desire to prevent their partner from receiving a fair distribution of marital wealth leads to questionable choices, including the intentional dissipation of assets.
Dissipation of assets occurs any time that one spouse intentionally acts to reduce a couple’s marital wealth. In some cases, this occurs by spending money on an extramarital romantic partner. For others, dissipation is achieved through extravagant spending that falls outside of the normal pattern of behavior within the marriage. No matter how it takes place, spouses who suspect their partner of depleting marital wealth should take immediate action.
One tool to fight against the dissipation of marital assets involves the services of a forensic accountant. These professionals are highly skilled at combing through a couple’s financial records in search of discrepancies or areas of concern. Any issues are flagged and further investigated, and evidence is compiled if there is a demonstrated pattern of depleting assets.
In negotiating a property division settlement, having this information in hand can make a world of difference in reaching a fair outcome. In some cases, simply being able to prove that a spouse is aware of financial mismanagement is enough to convince the other partner to agree to fair and favorable terms. However, some cases end up in an Arizona divorce court, in which case being able to prove dissipation of marital assets is critical to success.
Source: Forbes, “What Is Dissipation Of Assets In Divorce And What, If Anything, Can You Do About It?“, Jeff Landers, Nov. 1, 2016