Are you an Ohio resident considering divorce? Chances are, you have reached this decision as the result of experiencing many negative relationship elements. Distrust and financial issues are among the most common reasons that marriages end and divorce proceedings often may make the situation worse. The team at Triplett McFall Wolf Law, LLC helps clients work through the stressful and confusing task of uncoupling their lives and property from that of their spouse.
Dividing assets can be a difficult and complex process, especially if one spouse acted as financial manager for the household. According to Divorce Magazine, dissipation occurs when one spouse spends money with the sole purpose of reducing the marital estate. Providing evidence of this can be challenging, especially if your soon-to-be-ex tries to hide the spending.
In situations where you suspect dissipation, a forensic analysis of household finances may help. It can identify the specific dates, amounts and use of these expenditures. Mirror expenditures and moving money among various accounts are common tactics utilized to make purchases and accounts appear legitimate.
After proving assets were purposefully drained, the property is typically divided accordingly. Instead of a 50/50 split of the current estate, the court may distribute assets based on the estate value prior to dissipation activities.
Depending on the dollar amount of the proven expenditures, this can significantly impact the settlement. In some cases, it may be possible for you to recuperate assets equal to the dissipation before the final property division. Visit our webpage for more information on this topic.