Dissipation of Assets in Wisconsin

 Posted on May 21, 2024 in Property Division

When married couples go through a divorce, they need to come up with a plan for how they will divide their assets and property. It is an essential part of a divorce settlement. However, sometimes one spouse does something to reduce the value of the marital estate, which impacts a fair division. You might think you have a certain amount of value in your marital estate and then discover it is much less than it should be. If you think your spouse has actively dissipated assets in an attempt to manipulate your future divorce, speak with an aggressive Wisconsin divorce lawyer who will fight for fair compensation in a settlement.

What is the Dissipation of Assets?

A general description of dissipation of assets is when one spouse uses marital assets in a way that benefits them only outside of the marriage. This can happen in various ways. Some examples are:

• Using your joint bank account to buy a car, expensive watch, jewelry, or any other luxury item just for themself.
• Using your marital funds in an affair, by paying for a dinner, plane tickets, hotel rooms, or any other expense related to the extramarital relationship.
• Transferring or selling marital assets without your consent. This might be done in an attempt to hide the assets so they will not be included in the division of assets later on and they can keep them to themselves or to prevent you from using the assets. Either way, this is a clear case of dissipation of assets.
• Destroying marital assets. This is sometimes done in an attempt to hurt the other spouse, making them suffer financially or emotionally if the asset was irreplaceable or important to them.
• Using marital assets to finance their addictions. Whether they are addicted to drugs, alcohol, gambling, or anything else, spending marital assets on a personal addiction is a way to swindle the marital estate for one spouse’s sole benefit.

If you can show that your spouse is guilty of dissipating assets, it could have a large impact on your divorce proceedings. Your spouse did what they did and assumed they would benefit from the division of assets later on. However, if the court believes your claims, it might award you a larger portion of the marital estate.

Schedule a Free Consultation with a Waukesha, WI Property Division Lawyer

If you suspect your spouse is dissipating assets ahead of divorce, contact a Menomonee Falls, WI divorce attorney who can help uncover the truth. At Bucher, Wolff & Sonderhouse, LLP, we are available 24 hours a day, 7 days a week to fight hard for our clients to get a fair settlement regardless of their spouse’s actions. Call us at 262-232-6699 to schedule a free consultation.