In Ohio and across the country, finances are one of the main concerns of people facing divorce. Indeed, money can be the source of some of the most difficult and complex of disputes. When one party is fighting for every dollar and employing various tactics to keep money away from the other spouse, it makes good sense to secure the help of a lawyer experienced in high-asset divorce and complex property division. With the right help, it’s possible to protect one’s financial interests in a contentious divorce.
One way that a spouse may attempt to keep assets away from the other party is by dissipating them. This can be accomplished in many ways and may include spending large amounts of money on frivolous gifts and purchases. If one spouse has a high income which will continue after a divorce, gambling and wasting money are common tactics employed to ensure that the other spouse does not get as much money.
Dissipating assets out of a desire for revenge or spite is understandably frustrating for the other party. This is especially true for a stay-at-home parent or spouse who earned significantly less than the other during the marriage. Financial damage can be done quickly, and it is important to work with a lawyer to stop intentional dissipation of assets as soon as possible.
If a reader finds that large amount of money is missing or unusual charges appear on banking statements, he or she must take decisive action to protect long-term financial interests. In a High Asset divorce, there is much at stake. An experienced Ohio lawyer is the best way to ensure that a person’s post-divorce financial future is secure.
Source: Forbes, “What Is Dissipation Of Assets In Divorce And What, If Anything, Can You Do About It?“, Jeff Landers, Nov. 1, 2016