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Hillside, IL 60162

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 Can I Recover Marital Assets by Making an Asset Dissipation Claim? 

Posted on in Divorce

hillside divorce lawyerConflict is often a part of divorce, but certain relationships have higher levels of conflict than others. If your spouse has a history of being abusive or destructive or has unpredictable, angry outbursts, you may worry that he or she may try to destroy your shared belongings. Perhaps he or she has already done so, and you are wondering if you can be awarded the lost value of those items. In cases like this, what’s known as an “asset dissipation claim” may be worthwhile to bring in the divorce case. To learn more about this type of claim, read on, and then contact a skilled Illinois divorce attorney for help with such a claim. 

When Can an Asset Dissipation Claim Be Brought? 

Angry or vindictive destruction of marital property is not the only reason a spouse may want to bring a claim of asset dissipation. Any time a spouse uses marital funds for purposes unrelated to the benefit of the marriage, without the consent of the other spouse,   an asset dissipation claim may be able to be brought in the divorce case.  This is because marital money is meant to be used for the benefit of all parties in a marriage - not just one party. Examples of  behavior that may justify asset dissipation claims include, but are not limited to: 

  • Secretly spending large amounts of money on drug or alcohol abuse; 

  • Treating a new partner to lavish gifts, dinners or vacations;

  • Hiding assets by transferring money or property;

  • Spending sprees and other large purchases made without the consent of both spouses; and, 

  • Expensive gifts given to friends or family members. 

The timing of these behaviors is important in considering bringing a claim of asset dissipation, because the behavior in question must have occurred when the marriage was undergoing an irretrievable breakdown. When such a breakdown begins can be difficult to pinpoint, but most couples can usually point to a specific situation or period of time when they realized they were headed for divorce. 

Illinois law has strict guidelines regarding when claims of asset dissipation can be successfully filed. Certain time limits must be observed, not only for when in the divorce process a dissipation claim can be filed, but also for how far back in the relationship’s history the dissipation could have occurred. Your best bet is to talk to a knowledgeable divorce attorney as soon as possible to explore your options regarding this subject. 

Contact an Oak Park, IL Divorce Lawyer

Claims of asset dissipation can be complex, so they require the help of a skilled Hillside, IL divorce attorney with years of experience in dealing with possible asset dissipation situations. To learn more about asset dissipation claims, and whether you want to try to obtain the lost value of certain items from your spouse in this way, schedule a free, confidential consultation with the Law Office of Vincent C. Machroli, P.C. by calling our office today at 708-449-7404. 

Source: 

https://www.ilga.gov/legislation/ilcs/ilcs4.asp?DocName=075000050HPt%2E+V&ActID=2086&ChapterID=59&SeqStart=6200000&SeqEnd=8675000

 

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