Dissipation Of Assets In Fort Lauderdale Divorce: What It Is And Why It Matters

Going through a divorce is stressful enough without worrying that your spouse is actively sabotaging your finances. Unfortunately, in many cases, that’s precisely what happens.

If your spouse is wasting money, draining accounts, or racking up debt during a separation or divorce, Florida law may consider that dissipation of assets. Our Fort Lauderdale divorce attorney explains how this can impact you financially and ways to protect yourself.

What Is Dissipation of Assets and How Does It Happen?

Dissipation of assets refers to the intentional misuse, waste, or concealment of marital property by a spouse, usually around the time a marriage is breaking down.

Under Section 61.075 of the Florida Statutes, courts divide marital property equitably in divorce.

If one spouse deliberately reduced the value of the marital estate, the judge can compensate the other by awarding them a larger share. Common examples of how dissipation of assets in a Fort Lauderdale divorce happens:

• Excessive spending, such as going on lavish shopping sprees, taking expensive trips, or buying luxury items out of spite.
• Gambling or substance abuse can drain joint accounts and cause lasting financial damage.
• Hidden accounts or transfers of assets to friends or family to shield them from division.
• Affair-related expenses using marital funds, such as gifts, rent, or vacations, may qualify as dissipation.
• Business manipulation, such as delaying the collection of receivables or exaggerating losses to make the business look less valuable.

Dissipation isn’t always obvious at first. Being alert to how it often happens and effective ways to respond can help protect your assets and financial security post-divorce.

What to Do If You Suspect Your Spouse Is Depleting Assets In A Fort Lauderdale Divorce

Don’t wait to take action if you think your spouse is trying to drain your finances during a Fort Lauderdale divorce. Remaining silent could work against you in the Broward County Family Court, resulting in a reduced settlement. Instead, here’s how to respond:

• Start Collecting Records: Bank statements, credit card activity, Venmo transactions, and tax returns can reveal questionable spending patterns.
• Request Financial Discovery: Our Fort Lauderdale divorce attorney can demand sworn financial disclosures, subpoenas, and depositions to uncover dissipation.
• Hire a Forensic Accountant: A financial expert can uncover hidden money or manipulated accounts in complex or high-asset cases.
• File a Motion for Temporary Relief: If your spouse’s behavior affects your ability to pay bills, you may need emergency court intervention.

The earlier you document suspicious activity, the stronger your chances of recovering your share.

Contact Our Experienced Fort Lauderdale Divorce Attorney Today

Dissipation of assets during a Fort Lauderdale divorce is unfortunately common. If you suspect it is happening, do not delay. Get professional legal representation from The Law Office of Sandra Bonfiglio.

Our experienced Fort Lauderdale divorce attorney helps clients uncover and respond to dissipation, taking the legal actions needed to ensure they get the total amount they are entitled to in a divorce settlement. To request a confidential consultation, call or contact us online today.

Sources:

leg.state.fl.us/Statutes/index.cfm?App_mode=Display_Statute&URL=0000-0099/0061/0061.html

browardclerk.org/Divisions/Family