Some people start to change their behavior when their marriage starts to break down, either on the advice of friends or on a whim of their own. Changes in one or both partners’ spending can contribute to the end of a marriage. When a divorce is already underway, changes in spending can influence the way the court views one or both partners. New Jersey residents should understand how irresponsible spending can impact the outcome of their divorce.
Dissipation is something that occurs during a marriage. It involves using marital funds in a way that does not benefit the couple. For example, if one party is spending a lot of money on an extramarital affair, that can be dissipation. This depletes the couple’s resources and alienates one partner. Making a large purchase like a car or house without consulting a spouse can also be dissipation in some circumstances.
Spending during proceedings
Sometimes, people believe that if they overspend during divorce proceedings, it will set a new baseline for their typical needs. They think a judge will award them more if they do this. This is not true. In fact, this strategy is usually viewed very negatively.
Finances can be one of the biggest contributing factors in a decision to divorce, and dividing assets and liabilities is stressful. Often, at least one party is trying to “win” instead of seeking a fair distribution.
Always consider your attorney’s advice about spending during your divorce. They may be able to help you get the best outcome possible when it comes to a settlement. A legal professional’s experience in family law means they have a better perspective on the process to help you make financially smart decisions.