Dissipation of assets: What you can do about it

Some couples have a very simple divorce. The process goes smoothly with little issue. They are agreeable with each other and quick to compromise. However, many divorces in Georgia are quite the opposite. The couples argue over everything and the process drags on. There may even be a dissipation of assets occurring.

You may not have heard of dissipation of assets before, but Forbes explains it simply means wasting money or assets. This is often with the simple goal of keeping the other spouse from getting the money or assets.

Effects

Often when one spouse starts spending money frivolously during a divorce, it will have an impact on the other spouse. Couples usually still have joint accounts at this point. So, any money spent comes out of both of their pockets.

This is especially difficult if the spouse who is not dissipating assets is the one who did not work during the marriage. He or she may have fewer resources, which could make finances very tough.

Protection

There is some protection available to prevent this from occurring. A person may be able to acquire an order that prevents the misuse of funds during the divorce. This can take a while to get in place, though. Another option is for the spouse who notices the wasteful spending to close credit card accounts to stop access or open a new bank account for his or her money.

If a spouse notices dissipation of assets, it is essential to gather evidence of this. The court will allow such evidence if it truly proves one spouse was spending needlessly and to an extent that it is damaging the couple’s assets.

Spouses typically dissipate assets out of spite as a way to hurt the other spouse. However, that does not mean the other spouse has to accept it.