Dissipation of assets refers to the use of marital or community property by one spouse for their benefit or purposes that are unrelated to the marriage, without the other spouse's knowledge or consent, usually in anticipation of a divorce.
Examples of dissipation of assets can include selling assets, transferring money to a separate account, gambling, excessive spending, and intentionally reducing the value of the marital property.
Dissipation of assets is generally considered to be unethical and can have legal consequences in a divorce settlement. In many states, including Florida, the dissipation of assets is considered when dividing marital property during a divorce. If a court determines that one spouse has dissipated assets, the value of those assets may be deducted from their share of the marital property distribution.
To prove the dissipation of assets, a spouse must show that the other spouse spent marital funds on something, not for the benefit of the marriage and that the spending occurred after the marriage began to break down. It's essential to consult with an experienced family law attorney if you suspect that your spouse may have dissipated assets during your marriage.
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