Under Illinois law, marital assets are subject to equitable distribution in the event of a divorce. Dissipation of marital assets occurs when one spouse wastes or misuses marital property for their own benefit, without the other spouse’s consent, during a time when the marriage is undergoing an irretrievable breakdown.

The dissipation can take various forms, such as excessive spending, gambling, or transferring assets to others to deprive the spouse of their fair share in the divorce settlement. It’s important to note that not all spending during a marriage breakdown constitutes dissipation.

To prove dissipation of marital assets in Illinois, one typically needs to demonstrate that the expenditure or transfer occurred at a time when the marriage was undergoing an irretrievable breakdown and that the dissipating spouse intended to deprive the other spouse of their fair share of the marital property.

If dissipation is proven, the court may offset the dissipated amount by awarding the other spouse a larger share of the remaining marital assets in the divorce settlement. The burden of proof is on the spouse alleging dissipation, and it’s essential to provide clear evidence of the dissipation to the court.

To prove dissipation, it is necessary to engage in formal discovery and look at the bank statements and credit card accounts of the other party, amongst other financial records.  Sometimes a party does not even realize they potentially have a claim for dissipation unless and until they actually do formal discovery.

However, it’s important to note that even in the event of dissipation, the aggrieved spouse is only likely to be awarded half of the amount dissipated. The dissipating spouse had the right to use their share of marital property on whatever they were participating in or acquiring. It was only the non-dissipating spouse’s share that they unlawfully misappropriated.

Contact Our Downers Grove Asset Division Lawyers

The division of marital property is just one of many issues that will need to be resolved during divorce, and it can have a major impact on your finances. Our DuPage County asset division attorneys can advise you of your rights in these matters, and we will help you understand the best ways to achieve a positive outcome in your case.

Contact our office today at 630-427-4407. We assist with divorce cases in DuPage County, Kane County, Kendall County, Will County, and Cook County.