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Dissipation of marital assets spotlighted, Part 2

On Behalf of | May 3, 2018 | Divorce, Firm News

We noted in our prior blog post the flat family law reality that some divorces are relatively civil and effected without much ado and that others, well, aren’t. A proven divorce attorney has ample experience ably representing clients under both scenarios.

A focal point of our May 1 blog entry was on the phenomenon of so-called “dissipated marital assets.” If that sounds remotely negative or problematic, rest assured that it is. The dissipation of wealth in the divorce process is a purposeful and unilateral strategy employed by one partner to cheat an impending ex out of his or her equitable share of marital property.

Judges in Arkansas and nationally understandably frown on that.

So too do our attorneys at the long-tenured Little Rock family law firm of Robertson, Oswalt, Nony & Associates. Our legal team regularly represents clients who need strong advocacy focused upon the identification, valuation and fair distribution of marital wealth.

A Forbes article on asset dissipation notes its primary goal of “intentionally squandering marital property.” Simply put, one angry and vindictive spouse will purposefully try to spend away wealth that might otherwise go to his or her soon-to-be ex in a divorce outcome.

What can be done about that?

Importantly, the strategy needs to be timely detected and challenged. If a divorcing individual suspects that marital wealth is being intentionally depleted, quick consultation with a proven legal advocate is an imperative. In select cases, Forbes notes, a judicial order can issue that bars a spouse “from changing the status quo of the marriage once a divorce action begins.”

A client’s seasoned family law attorney will be sure to act with dispatch in responding to a client’s concerns regarding wealth that is being depleted. In some instances, legal counsel might employ other professionals – such as a forensic accountant – to help identify and stop the unlawful behavior of a malicious spouse.

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