Cipriano Law Offices, P.C.
Call toll free

What does it mean when assets are dissipated during a divorce?

When a marriage ends and New Jersey residents are unable to come to an amicable settlement, the proceedings can get quite contentious. One of the most fought over issues in a divorce is dividing the marital property. There are many things that one of the parties can do to exacerbate the circumstances, and dissipating the marital assets is one of them.

Spending money and otherwise disposing of marital assets so that they cannot be divided is the hallmark of dissipation. This is often done in order to keep the other spouse from receiving his or her share of them. In order to combat this, an Automatic Temporary Restraining Order (ATRO) can be filed. This document prohibits either party from making changes to the marital financial situation during the proceedings.

Even if an ATRO is in place, that does not necessarily mean that it will be followed. It would be a good idea to keep track of bank accounts, credit card statements and other financial and property documentation in an attempt to identify if assets are being squandered. It might be necessary to bring in a forensic accountant in order to determine whether the marital estate is intact.

Going through a divorce is never easy, but when one of the parties is attempting to sabotage the settlement and jeopardize the future of the other spouse, it can be much more of a challenge. It could require the help of an attorney, other advisors and the court to receive an equitable share of the martial assets. New Jersey residents who find themselves in this situation would benefit from talking to an attorney as quickly as possible.

Source: Forbes, "What is dissipation of assets in divorce and what, if anything, can you do about it?", Jeff Landers, Nov. 1, 2016

No Comments

Leave a comment
Comment Information

Honored as a "Best of New Jersey Among our Most Distinguished Americans of Italian Descent" and conferred the "Stivale D'Italia Award of Excellence" by the Italian Tribune for her "honesty, integrity and dedication to fair and ethical business practices" and her "outstanding reputation as a Woman Whose Word is Her Bond".

*See methodology for inclusion at the websites listed: Super Lawyers, NAFLA, AIOFLA, and AVVO. No aspect of this advertisement has been approved by the Supreme Court of New Jersey.

Contact Cipriano Law Offices, P.C.

To learn more about our Essex County divorce and family lawyers, you may email us or call 800-646-0731 to schedule an initial consultation.

Cipriano Law Offices, P.C.
175 Fairfield Avenue
Suite 4C/D
West Caldwell, NJ 07006

Toll Free: 800-646-0731
Toll Free: 800-646-0731
Fax: 973-403-8610
Map & Directions

Make a payment

Schedule A Consultation

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Schedule a Consultation