It’s rare for people going through a divorce in Washington to avoid the occasional hurdle. Things can get even more problematic when someone with considerable assets divorces. One potential problem one or both parties can encounter in a divorce involves something called dissipation. Here’s a closer look at dissipation, and why you shouldn’t spend too much money while divorcing.
Can I spend any money during a divorce?
Of course. Even if people are going through the divorce process, they still have bills to pay and things to buy. Things can become problematic depending on either what you buy or who you buy things for.
If you haven’t heard of dissipation before, you’re far from alone. Dissipation is when one party in a marriage spends a lot of the money a couple shares while the marriage is breaking down. While former spouses in a high-asset divorce typically risk dissipation, it can happen in any divorce.
Some people commit dissipation by spending lots of money on affairs while married. Other individuals might buy lots of expensive items to make sure their former spouse receives less money in a divorce. As you can imagine, dissipation is an extremely serious offense. If found guilty of committing dissipation, you could wind up having to repay your former spouse a hefty sum of money.
Wrapping things up, make sure that you’re not spending a lot of money if you’re in a marriage that’s ending. By doing this, you’ll only hurt your side of things in the eyes of the court. If you suspect your former spouse will commit dissipation, keep a close eye on any money you brought into the marriage.