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Can a divorcing spouse destroy assets?

| Sep 27, 2018 | Divorce & High Asset Divorce |

Some divorces bring out the worst in people. Vengeful spouses will look for any way to harm an ex, including denying their former partners as many assets as possible, even if it means spending them away or ruining them so they will be of no value. This kind of asset destruction is known as dissipation, and it is something that Connecticut spouses planning a divorce should watch for.

As the Huffington Post points out, a spouse who wants to get rid of money has a lot of ways to accomplish the task. Spouses who carry on affairs can lavish their significant others with expensive presents, or treat them to a luxurious locale where thousands of dollars could be spent over the course of a weekend. Still, a spouse does not need a partner to spend lots of money on; the spouse can choose to indulge in expensive solo vacations or hobbies. Sometimes a trip to the casino is all a person needs to lose a lot of money.

Also keep in mind that dissipation does not merely involve spending cash. Physical assets that are worth a lot of money can also be dissipated. A spouse may allow a friend or relative to “borrow” a piece of property. A vehicle like a car or a boat, which would normally be worth a lot of money, could also be sold for a price that is far less than what is worth, so even if the other spouse received a share of the sale, it would not be a fair amount. Additionally, a spiteful spouse might just wreck or destroy physical items through neglect or direct action.

Real estate can also be dissipated. Pay attention to a house or property you share with your spouse. In some cases of dissipation, a spouse who has charge of mortgage payments will intentionally neglect to pay at the required due dates. This could result in a bank foreclosing on the property. A vengeful spouse could also neglect to pay property taxes, inviting legal trouble and a possible sell-off of the property.

Anyone who suspects that a spouse might engage in the destruction of assets can seek a remedy by asking a qualified divorce attorney for options. Even if dissipation is proven, a spouse still can be remedied by receiving a greater share of assets that are left over. Given that divorce cases can vary from one another, you should not take this article as legal advice. It is only written to provide information on divorce topics.