Going through an Illinois divorce is always stressful, but going through a divorce when your soon-to-be ex is a reckless spender is extremely difficult. The pressure of going through a divorce has a tendency to bring out the worst parts of a person’s personality. Some divorcing partners try to take revenge on the other partner by overspending. Unfortunately, the consequences of being an incredibly aggressive spender can be financially devastating to both parties in a divorce.
At Glasgow & Olsson, our divorce attorneys have witnessed cases in which one spouse spends a huge amount of marital assets right before filing for divorce. Sometimes a spouse will spend tremendous amounts of money during the divorce process before the divorce becomes finalized. Excessive spending could happen when one spouse wants to hurt the other. Or, a husband might think he will lose a significant amount of assets in the divorce so he decides to spend as much money as possible.
Illinois is a Not a Community Property State
Whatever the circumstances, navigating a divorce with a spouse who spends recklessly provides its own set of challenges. Illinois is not a community property state. Illinois family courts will divide all of the marital assets equitably but not always equally. Marital property includes all assets and property that the couple acquired during the marriage.
When a couple acquires a bank account during the course of the marriage, it is considered marital property. In other words, everything that one or both spouses acquired during the marriage belongs to the marriage. All property goes into the marital pot and then the family court decides how to divide the assets between the spouses.
What to do When a Divorcing Spouse Spends Money for Non-Marital Purposes
What happens when one spouse begins spending significant amounts of money before the divorce is finalized? In Illinois, if that money is not spent on the marriage, it is subject to a dissipation claim and reimbursement of the costs to the non-spending spouse. A dissipation claim refers to what happens when one spouse spends money for non-marital purposes. An example of dissipation would be when a divorcing wife decides to spend $10,000 on a personal vacation with her boyfriend using a credit card acquired during her marriage.
The spouse trying to prove that dissipation has taken place must prove that an irretrievable breakdown of the marriage had already occurred when the spouse dissipated the funds. Dissipation claims must be made no later than 60 days before the divorce trial, or within 30 days of the closing of the discovery, whichever is closer.
After a spouse files the dissipation claim, the accused spouse has the burden to prove that he did not dissipate marital funds by clear and convincing evidence. When Illinois family courts determine that a spouse has dissipated marital assets, they will force the guilty spouse to reimburse the marital estate. Thus, if the husband spent $5,000 on a private vacation with his new girlfriend, he would have to contribute $5,000 back to the marital estate.
Our Divorce Attorneys Can Help
If you are going through an Illinois divorce and your spouse is a reckless spender, our attorneys can help. We recommend speaking with one of our experienced attorneys as soon as possible. We can provide you with the legal guidance you need to protect your assets and stop your spouse from dissipating the marital assets. Contact our law firm today to learn how we can assertively represent you.