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Orlando Divorce And Dissipation Of Assets

Are you getting an Orlando divorce? Has your spouse dissipated the assets? What is dissipation of assets? Was the dissipation of assets intentional? What can you do?

Dissipation of assets is when one spouse intentionally uses marital funds for a nonmarital purpose, and conceals that during the break down of the marriage such as, but not limited to:

1. Paying for a mistress.
2. Moving marital money or monies to a person other than the spouse to conceal assets from the spouse.
3. Using marital monies to gamble and concealing that from the other spouse.
4. Diverting money from the spouse and spouse’s account to secret accounts of the diverting spouse or someone other than the spouses; and not disclosing that to the other spouse, but concealing it from the other spouse.

Was there dissipation? How can you tell? Have large sums of monies disappeared from accounts? Has your spouse ran up credit card bills spending monies on a mistress? Has your spouse put monies in s stepchild’ account?

These actions may show up when you receive the spouse’s bank account information during mandatory disclosure. Or, you may need to subpoena your spouse’s bank records. Lastly, you can retain a forensic accountant to investigate this.

A spouse is not dissipating marital assets if he or she is paying ordinary living expenses.

FS 61.75 Equitable Distribution is the Florida Statute that details equitable distribution. The court starts with premise that parties should each obtain an equal division of assets and debts, unless there is justification under the enumerated factors for unequal distribution of assets and debts such as:

FS 61.07 (1)(i) states: The intentional dissipation, waste, depletion, or destruction of marital assets after the filing of the petition or within 2 years prior to the filing of the petition.

However, FS 61.075 (1)(j) states:  Any other factors necessary to do equity and justice between the parties.

See Beers v Beers, 724 So 2d 109 (5th DCA October 23, 1998), which is a very helpful case on understanding the difference between dissipation of assets versus ordinary expenditures. In that case the court allowed the party to go back more than 2 years and recover for the dissipation of assets.

If you have more questions regarding equitable distribution and dissipation of assets or your Orlando divorce, you may contact Ann Marie Giordano Gilden, Esquire at Ann Marie Giordano Gilden, P.A. at (407) 732-7620.

This article is for informational purposes only and does not form an attorney client privilege.