Is There Dissipation Of Marital Assets In Your Case?

Dissipation of marital assets occurs when one spouse wrongly spends marital income or marital assets for an improper purpose. If the expenditure did not benefit the marriage or the family it could be considered dissipation. An example of dissipation could be gifts or vacations a spouse takes with his or her lover. Under the law, the expenditure will only be considered dissipation if it occurred while the marriage was “irretrievably broken”. If dissipation is established, the court may order the party who improperly spent the money to “pay back” the other spouse or may award the non-spender additional assets to compensate for the dissipation. If you have questions about dissipation of marital assets, call me.

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If you are looking for legal advice and representation with an Illinois divorce, schedule a consultation with experienced Chicago divorce attorney, Tanya Witt, at (312) 500-5400 or info@thewittlawfirm.com.

Representing men and women in Chicago divorce and child custody cases.

This blog does not constitute legal advice. Please consult with an attorney regarding your specific case.