Dissipation of Marital Assets and What to Do Before Filing Divorce

dissipation of marital assets Boca Raton, FLBoynton Beach Divorce Lawyer, Jordan Gerber, Esq., Explains the Biggest Obstacle to a Quick Divorce in Florida

The dissipation of marital assets can act as a serious roadblock to a quick divorce in Florida.

Boynton Beach divorce lawyer, Jordan Gerber, Esq. provides solutions to this seemingly overwhelming problem.

The Impact a Dissipation of Marital Assets can Have on Boynton Beach Divorce Records

Okay, we all get it. The economy sucks. For many, this translates to perpetual fear of the stock market or slashing luxuries once taken for granted. For those who file for marriage dissolution in Florida, it can be an entirely different ball game. This is because the division of marital property is most often the focus of Boynton Beach divorce records. This is especially true when there is a dissipation of marital assets.

The minute divorce appears in a person’s stream of consciousness, a compelling desire to blame the other party isn’t usually far behind. Consequently, information about terms like marital misconduct is only fanning the flames of blood-thirsty spouses. As a result, in a case where one spouse dissipates assets, the other party almost always takes this as a term of war.

dissipation of marital assets Boca Raton, FLWant a Quick Divorce in Florida? Make Sure the Bases are Covered

If this scenario sounds familiar, please allow me to intervene and offer these words, HOLD UP, WAIT A MINUTE.  No, I’m not channeling Family Force 5. Or Dr. Dre depending on your musical taste. My mantra is  knowledge equals power in all areas of life. This is most noteably true to form if there’s been a dissipation of marital assets under Florida divorce law.

Boynton Beach Divorce Lawyer, Jordan Gerber, Esq., Advises to Keep Emotions at Bay

When a party deals with Boynton Beach divorce documents, he or she should always look at the situation like a business transaction; rather than an emotional game of cat and mouse between husband and wife. It’s important to note that marital misconduct is not proven through either simple mismanagement or squandering spouse assets in a manner of which the other spouse disapproves. Proving that spouses dissipated marital fund can be tricky, but not impossible by any means. Especially when there is an innovative and skilled Family Law attorney in your corner.

dissipation of marital assets Boca Raton, FLThe Details of the Dissipation of Marital Assets under Florida Statute

As any Boynton Beach divorce lawyer will tell you, Florida is an equitable distribution state. This means that property is divided equally during the Boynton Beach divorce process. At least, this is always the starting point. There is always room to argue that a justification exists for an unequal distribution based on Florida Statute 61.075:

  1. Contribution to the marriage by each spouse, including contributions to the care and education of the children and services as homemaker.
  2. Economic circumstances of the parties.
  3. The duration of the marriage.
  4. Any interruption of personal careers or educational opportunities of either party.
  5. Contribution of one spouse to the personal career or educational opportunity of the other spouse.
  6. The desirability of retaining any asset intact and free from any claim or interference by the other party.
  7. Contribution of each spouse to the acquisition, enhancement, and improvement of both the marital and non-marital assets and liabilities of the parties.
  8. The desirability of retaining the marital home as a residence due to a dependent child of the marriage, or any other party. When it would be equitable to do so, it is in the best interest of the child or that party, and it is financially feasible for the parties to maintain the residence.
  9. The intentional waste, depletion, destruction or dissipation of marital assets after the filing of the divorce petition or within 2 years prior.
  10. Any other factors necessary to do equity and justice between the parties.

dissipation of marital assets Boca Raton, FLBest Boynton Beach Divorce Lawyer Advice: Learn the Definition of Dissipation of Marital Assets under Florida Rules

It’s important to emphasize again that expenditures and investment decisions not rising to level of marital misconduct won’t support an unequal division of marital property in Florida divorce records. Say your significant other blew your kid’s college fund on a hedge fund tip from the guy that cuts his hair. Or lost your equity line of credit in a high stakes poker game. While he may be an idiot, he’s not going to be held responsible for a dissipation of marital assets.

It is also important to note that marital misconduct must have occurred within  two years of filing for Florida divorce. Additionally, the marriage must have been undergoing an irreconcilable breakdown. The timing issue is self-explanatory. But take caution if you were blindsided with divorce papers.  If you and your spouse were in wedded bliss when the action occurred, you may be out of luck.

In conclusion, proving a dissipation of marital assets in Palm Beach County is quite complex. In addition, forensic accounting services are usually necessary. However, with a skilled Family Law attorney by your side, anything is possible.

Click Boynton Beach Divorce Lawyer to schedule your consultation. Proudly Serving Boca Raton, Delray Beach, West Palm Beach, and all of Palm Beach County, South Florida.

Palm Beach County Family Law Attorneys Practice Areas Include:

  • Florida Prenuptial Agreement

  • Post Marital Agreement

  • Simplified Marriage Dissolution Florida

  • Contested Divorce

  • Uncontested Divorce

  • High Net Worth Divorce

  • Annulment

  • Florida Alimony Laws

  • Equitable Distribution

  • Dissipation of Marital Assets

  • Legal Separation Agreement

  • Division of Property

  • Imputing Income

  • Dissipation of Marital Assets

  • Modification of Alimony Payments

  • Florida Modification of Child Support

  • Modification Of Child Custody In Florida

  • Florida Child Support Enforcement

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