When becoming involved in any legal proceeding, it is essential to understand all of the terminologies used in your case. This can be difficult for many people as their case becomes increasingly complicated. During a divorce, there are many steps that must be taken to dissolve a marriage fully. In the scenario that a divorce is contested or becomes complex, new language between attorneys and judges may appear, such as dissipation of assets. To fully understand your divorce case, advocate for yourself, and ensure your legal rights are protected during the divorce, it is vital to understand dissipation and how it may affect you.
What is Dissipation in Divorce?
Dissipation is defined as the squandering or wasting of money, property, or other essential resources. Dissipation in divorce can happen in many ways, but it has one underlying theme — a partner using shared assets for an individual benefit during the divorce. Too often, when dividing marital assets during a divorce, a lawyer or the other partner will uncover hidden or squandered assets.
Common examples of dissipated marital assets include:
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