San Antonio, Texas Asset Dissipation Lawyer

Divorce Attorney Helping to Address the Dissipation of Marital Assets in San Antonio, TX

Asset dissipation is a serious issue that can arise during a divorce, particularly in high-conflict cases or situations involving complex financial concerns. In San Antonio, courts take asset dissipation seriously, as it undermines the equitable division of marital property required by state law. At Brandon Wong & Associates, our attorney works diligently to address instances where one spouse has improperly used or wasted marital assets. He can help ensure that his clients receive their fair share of the marital estate. His experience with these cases allows him to identify and address even the most subtle forms of financial misconduct and hold the responsible party accountable.

What Is Asset Dissipation?

Asset dissipation occurs when one spouse intentionally wastes, misuses, or depletes marital assets to deprive the other spouse of their fair share during a divorce. Dissipation can take many forms, and it can lead to significant financial losses. Courts in Texas take steps to ensure a fair division of marital property during divorce cases, and evidence of asset dissipation can result in adjustments to the distribution of assets to compensate the affected spouse.

Common Examples of Asset Dissipation

• Excessive or frivolous spending where one spouse engages in lavish purchases, extravagant vacations, or unnecessary expenses can deplete a couple's shared resources. These actions can significantly impact the financial stability of both parties as they work through the divorce process.
• Gambling losses are another frequent form of asset dissipation. A spouse who recklessly gambles away marital funds, whether at a casino, through online betting, or in other high-stakes activities, can be held accountable for these financial losses. This behavior not only reduces the overall value of the marital estate but also demonstrates financial irresponsibility that may factor into the court's decisions.
• Gifting assets is a less obvious method of dissipation, and it may involve transferring money or property to friends or family members with the goal of shielding it from division during the divorce. These transfers are often designed to hide assets temporarily, making it critical to uncover such activities through detailed financial analysis.
• Deliberate destruction of property may sometimes occur during a divorce. One spouse may attempt to cause financial harm to the other by reducing the value of marital property, whether by damaging physical assets or sabotaging jointly held investments.
• Hidden accounts and concealed investments represent another challenge in asset dissipation cases. A spouse may attempt to hide funds in undisclosed accounts or shift money into obscure investments to prevent its inclusion in the division of property. Tracing these hidden assets requires a meticulous approach to financial documentation and analysis.

By leveraging financial records, collaborating with forensic accountants, and presenting compelling evidence in court, Attorney Wong helps his clients recover their fair share of the marital estate, protecting their financial futures during and after the divorce process.

Complex Issues in Asset Dissipation Cases

One common challenge with asset dissipation is the commingling of funds. Separate property and marital property may become mixed, making it difficult to trace the origins of assets and determine whether dissipation has occurred. Another complication may arise with international assets, as locating and valuing property held overseas can be particularly daunting in high-net-worth divorces.

Valuation disputes are also quite common in asset dissipation cases, with disagreements about the true worth of dissipated assets, such as expensive jewelry, artwork, or vehicles. Addressing these issues requires a thorough understanding of financial documentation and a strategic approach to uncovering and resolving financial discrepancies.

Attorney Wong has extensive experience handling these complex issues. He works with experts to ensure that all assets are accurately identified, valued, and included in the division of property.

Contact Our San Antonio Asset Dissipation Attorney

If you are facing divorce and believe that your spouse has engaged in asset dissipation, contact attorney Brandon Wong for skilled legal assistance. He will work with you to make sure your financial interests are protected as you move forward with your divorce and plan for a stable future. Contact Brandon Wong & Associates at 210-201-3832 or online to schedule a consultation.