If you and your spouse are moving toward a divorce, it can be a good idea to keep an eye on any financial trends, such as their spending habits or charges made on a credit card. Many couples will actually cancel shared credit card accounts as soon as they separate, even before the divorce is finalized.
One potential issue is known as the dissipation of marital assets, where your spouse tries to waste or squander assets that both of you own. This can reduce the total value of your marital estate, which may mean that you receive less than you would have expected during property division.
Why would someone do this?
In some cases, people simply do this out of spite. If your spouse is unhappy that you filed for divorce, they may try to spend the money just to keep you from getting anything they can. It also harms them financially, but they are reacting emotionally rather than logically.
Another factor is earning potential. In some cases, the spouse who is dissipating marital assets is a high earner, while their partner is not. They know that they can spend the money and then earn it back after the divorce, so it does more harm to their former spouse.
Additionally, dissipation often involves assets that do not have long-term financial value. If your spouse spends money on trips, meals and entertainment, for instance, they still get the benefit of those experiences, but there are not any physical assets to go through property division.
Advocating for your rights
It is very important to understand your rights when addressing property division issues. It can help to work with an experienced family law attorney at this time.