Protecting Your Marital Assets: Understanding Dissipation of Assets in Divorce
As you navigate the complex process of divorce, it’s essential to be aware of the potential risks to your marital assets. One critical concern is dissipation of assets, where one spouse intentionally spends or squanders shared property to reduce its value for equitable distribution.
What is Dissipation of Assets?
Dissipation of assets can take many forms, including:
- Extravagant spending on non-essential items
- Secretive financial transactions
- Large “gifts” to friends or family
- Significant cash withdrawals
- Expensive vacations or hobbies
- Unexplained transactions on credit card or bank statements
At Beroes Law Center in Pittsburgh, our experienced divorce attorneys are here to guide you through this challenging time and help you protect your rights.
Preventing Dissipation of Assets
To prevent the dissipation of assets, consider taking proactive steps such as:
- Separating your finances
- Monitoring your accounts
- Inventorying your assets
- Seeking a court order to freeze joint accounts or prevent the sale of marital property
- Consulting a forensic accountant to track down hidden assets and detect fraudulent transactions
What To Do If You Suspect Dissipation of Assets
If you suspect your spouse is dissipating marital assets, act quickly to prevent further damage. Our experienced divorce attorneys can help you make a claim of dissipation of assets and ensure a fair distribution of marital property.
Contact Beroes Law Center today to schedule a consultation and learn more about how we can support you. Remember, your marital assets are at stake – don’t let them be wasted without a fight.