Close Search

Website Search

Search
Wakenight & Associates, P.C.

1100 Lake Street, Suite 120, Oak Park, IL 60301

DuPage County | 630-852-9700

Mokena | 815-727-6144   Oak Park | 708-848-3159

Contact Our Firm

NOTE: Fields with a * indicate a required field.
Name *
Email *
State
ZIP
Phone *
How would you prefer to be contacted?
E-Mail
Phone
No Preference
Briefly describe your legal issue. *

DisclaimerThe use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

I have read and understand the disclaimer.

Contact Us

Elmhurst Dissipation of Assets Attorneys

Divorce attorneys for marital assets spent on affair

Lawyers for Claims of Dissipation of Marital Property in DuPage County

At Wakenight & Associates, P.C., we know that there is no limit to the complications that could present themselves in the course of a divorce. Many of these challenges are financial in nature and become evident during the processes of identifying, evaluating, and dividing marital property. For some couples, wasteful spending of marital assets by one spouse is one such issue. If you are getting divorced and you believe that your spouse has been spending money recklessly or on an affair, our skilled attorneys can help you file a claim of dissipation in your divorce.

Understanding Dissipation

The Illinois Supreme Court and Illinois law define "dissipation" as the use of marital assets for the benefit of only one spouse while the marriage is undergoing an irretrievable breakdown. Such spending is frequently an issue in contentious divorce cases. Dissipation may also include the destruction of or failure to maintain marital property such as real estate or personal belongings if the result of such behavior is a decrease in the total value of the couple's marital estate. A party who spends money in this way or destroys marital property may be held liable for the mishandled assets, but it is up to the other spouse to file a claim of dissipation.

Dissipation Claims Attorneys in Western Springs and Burr Ridge

When you file a dissipation claim, you will need to address two primary points of concern. First, you must show that the assets lost or the money spent was not used for purposes related to the marriage. For example, if your spouse withdrew a large amount of money from your joint savings account and used it to pay off the remaining debt on your car, such spending is probably not going to be counted as dissipation. The overall value of your marital property will not have changed. If the withdrawn funds were used to fund your spouse's trip to the Bahamas with a new romantic interest, however, a finding of dissipation is much more likely.

The second concern is the timing of the spending. The law only recognizes spending that occurs once the marriage has begun to break down as dissipation. Bad financial habits are not considered dissipation if the marriage is otherwise healthy. You must also raise your claim within three years of finding out about your spouse's spending, assuming the marriage has started to break down. Additionally, there is a cutoff period of five years prior to the filing for divorce. Any spending or destruction of property that occurred prior to the cutoff period will not be considered dissipation by the court.

The lawyers at Wakenight & Associates, P.C. have more than 90 years of combined family law experience, and we have handled many divorce cases that involved claims of dissipation. We can help you hold your spouse accountable for his or her wasteful spending so that you can receive an appropriate share of the marital estate. If you have been accused of dissipation, we are also equipped to assist you in showing that your expenditures were justified under the law.

Get the Help You Need Today

To learn more about the dissipation of marital assets and how such spending could affect your divorce, contact our office. Call 630-852-9700 for a free, confidential consultation with a member of our team. We represent clients in Elmhurst, Oak Brook, La Grange, Hinsdale, Lombard, Addison, Villa Park, Kane County, DuPage County, and the surrounding areas.

Facebook

Twitter

LinkedIn

Contact Us

Contact Us

Search

Search

Back to Top