Divorce comes with many challenges, which only increase when one spouse sets out to decrease the value of marital assets.
As a state focused on equitable distribution, Florida also takes into account marital asset dissipation. Unfortunately, some people do not realize waste has happened. During the divorce process, watch for the following signs:
1. Spouse Has a Gambling or Drug Addiction
Anyone with an addiction has to pay for it. Although some people win big while gambling, most lose out on a lot of money. When it comes to drug addiction, prescription drug abuse continues to rise. Those illegal substances typically come at a high price well over their legal costs. While still married, the addicted spouse may quickly deplete marital funds to cover an addiction.
2. Assets Go Missing
To reduce the amount of marital assets, some people try to give away or sell marital assets or property. This may look like a spouse gifting an expensive collection or jewelry to a family member or selling a vehicle significantly below market price. Placing property in a fund also may fall under the dissipation category.
3. Bank Accounts Get Drained Quickly
While a couple needs to use shared resources for day-to-day living, those expenses should look like they always have. If a spouse starts to spend money on a fancy car, a solo luxury vacation, or replacing an entire wardrobe, it all points to a purposeful waste of assets that only benefits one person.
Although proving dissipation comes with complexities, doing the research and obtaining evidence helps ensure an equitable divorce settlement.