According to Illinois law, dissipation of marital assets is defined as the use of marital property or assets to solely benefit one spouse for a purpose unrelated to the marriage when the marriage is in the midst of an irreconcilable breakdown. As a marriage undergoes difficult times—and as divorce becomes more and more likely—one or both of the spouses might begin deviating from their usual spending patterns. They might spend marital funds irresponsibly, neglect to pay bills, or enter into major financial agreements, among other things, all without the other spouse’s consent. This could affect the fair and equitable division of marital property during the couple’s divorce.
Common Examples of Marital Asset Dissipation
In order to safeguard yourself against possible marital asset dissipation, it is important to know all the different ways your spouse might be dissipating assets so that you can more readily spot them when you suspect impropriety. There are many ways a spouse could improperly dissipate marital assets, including: