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What is the Difference Between Depletion and Dissipation of Marital Assets in the Orlando, Florida Area Divorce Case?

During Equitable Distribution, in accordance with Florida Statute 61.075, the date of valuation is the date that the petition for dissolution of marriage is filed. However, a divorce case may not get to trial for eighteen (18) months or longer. During that time, the parties still must pay their bills. Many times, one spouse has moved from the marital residence, and now there are two households with monthly expenses. Further, when a case goes to trial, each side has normally expended large sums of money on attorneys prior to arriving at trial. Therefore, at the date of filing, many times the assets of the parties compared to the date of trial are much less. Further, many times the liabilities of the parties at trial are much greater than the date of filing the petition for dissolution of marriage. 

Both the Orange County and Seminole County Clerk have Administrative Orders on how the parties should conduct themselves during the divorce, including spending and finances, along with limitations and restrictions regarding the assets. These Administrative Orders can be found on the Orange County Clerk website and the Seminole County Clerk website. Further, when you are served with the Summons and Petition for Dissolution of Marriage, you are also served with a copy of the Administrative Order. 

The orders make clear that you are not allowed to dissipate the marital assets during the pendency of the divorce proceedings. So, how are you surviving? You are allowed to continue to pay ordinary living expenses. Ordinary living expenses usually include, mortgage, rent, homeowners insurance, car insurance, life insurance, groceries, toiletries, electric, phone, and the other necessities. 

Paying ordinary living expenses is not dissipation of marital assets. It is the depletion of marital assets. In order to fall under the category of dissipation of marital assets, there must be misconduct. There must be a showing that the party intentionally dissipated or destroyed the asset. The trial court must find intentional misconduct based on evidence showing that marital funds were used for one party’s own benefit and for a purpose unrelated to the marriage at the time which the marriage is undergoing an irreconcilable breakdown.  

If you have more questions regarding a Marital and Family Law matter, you may call Ann Marie Giordano Gilden at Ann Marie Giordano Gilden, P.A. at 407-732-7620 and set an initial consultation. You may also visit my website at: https://www.annmariegildenlaw.com 

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