Tag Archives: asset tracing
Dissipation in Illinois.
Dissipation in a legal context refers to one spouse’s use of marital funds for their sole purpose or gain and not to the benefit of the marriage. Dissipation is limited to the timeframe in which the marriage began to experience irretrievable breakdown resulting inevitably in divorce. Dissipation is commonly linked to extramarital affairs but is not inextricably associated with it. Any type of money transfer, purchase or spending spree that devalues the marital property can be constituted as dissipation if found to be done without consent or deliberately hidden from one’s spouse.