How Dissipation Of Assets In A Fort Lauderdale Divorce Can Leave You Getting less Than Your Fair Share

When getting a divorce in Fort Lauderdale, dividing marital property is a major issue. You are entitled to a fair share of all marital property and assets. Unfortunately, the dissipation of assets could leave you with less than you deserve. Our Fort Lauderdale divorce lawyer explains more about the problem and how it can impact your rights.

What Is Dissipation Of Assets In A Fort Lauderdale Divorce

In any Fort Lauderdale divorce case, certain issues must be resolved before a final order is issued. One of these is the equitable division of marital assets. Under the Florida Statutes, you are entitled to a fair share of all marital property depending on each person’s income, their individual assets, and their overall contributions to the marriage.

Marital assets include items such as your home, car, and household furnishings, as well as artwork or antiques, shares in businesses, money in bank accounts, investments, and retirement benefits. When filing for a divorce in Fort Lauderdale, you want a complete inventory of all these items and their worth.

Dissipation happens when one spouse wastes, squanders, or attempts to hide these assets to avoid equitable distribution and retain sole ownership. Examples include:

• Hiding money in individual financial accounts and not including these amounts in your pre-divorce inventory;
• Asking a friend or family member to hold certain items or temporarily transferring ownership into their name;
• Using up marital funds or losing property due to problems such as gambling or drug and alcohol addiction;
• Wasting marital assets on affairs.

Get Your Fair Share In A Fort Lauderdale Divorce

If you are filing for a divorce through the Broward County Family Court, it is important to be aware of what dissipation of assets is and how it can impact your case. Getting your fair share of any marital property and assets is not only your legal right, but it can impact your ability to recover financially once a final divorce order is issued. Ways to uncover the dissipation of assets in your Fort Lauderdale divorce include:

• Make a thorough inventory of all property and assets;
• Review all bank accounts and check for withdrawals;
• Review credit card bills and other statements for unexplained activity;
• Check last year’s tax returns, which can show hidden income;
• Do a property search using your spouse’s name to see if there is any change in titles;
• Do an online search, which may reveal hidden websites, online storefronts, or other items of value.

Ideally, hidden assets are uncovered prior to your final divorce order. However, if you discover them after, you may be able to request modifications.

Contact Our Fort Lauderdale Divorce Lawyer

Dissipation of assets is common in divorce and can impact your financial security in the aftermath. To discuss your rights and ways to protect yourself, reach out to the law office of Vanessa L. Prieto. Call or contact our office online and request a consultation with our Fort Lauderdale divorce lawyer today.

Sources:

leg.state.fl.us/Statutes/index.cfm?App_mode=Display_Statute&Search_String=&URL=0000-0099/0061/Sections/0061.076.html

browardclerk.org/Divisions/Family