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Wakenight & Associates, P.C.

1100 Lake Street, Suite 120, Oak Park, IL 60301

Oak Park | 708-848-3159

DuPage County | 630-852-9700   Mokena | 815-727-6144

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Subscribe to this list via RSS Blog posts tagged in Oak Park dissipation of assets attorney

Oak Park divorce lawyer for asset dissipation claimsThe end of a marriage can be difficult, regardless of the reasons why a couple‚Äôs relationship broke down. Even an amicable divorce may have its challenges, since many legal issues will typically need to be resolved, including the division of assets. In Illinois, marital property is subject to equitable distribution. This means that any assets acquired during the marriage must be divided fairly. In some cases, it may be discovered that one spouse frivolously spent a large portion of the marital assets. Referred to as dissipation of assets, this typically occurs when one partner wastes money by making large purchases for his or her own benefit. This behavior often occurs when there are problems in the marriage, and a divorce is forthcoming. If you suspect that your spouse may have squandered marital funds, you may be entitled to compensation in your Illinois divorce settlement.   

Examples of Wasted Assets

There are many ways a person can dissipate assets or property. These include:

  • Gambling addictions

    ...
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