Dissipation Of Assets In Minnesota Divorce
Finding out that a spouse wasted or hid marital money is a painful discovery, leaving you questioning everything, including your financial future. Dissipation of assets occurs when one spouse wastes, hides or unfairly spends marital property before or during a divorce. In Minnesota, courts divide property based on what is just and equitable, and that process can account for a spouse’s financial misconduct.
At Dwire Law Offices, Todd Dwire has spent years helping clients in Lakeville and the Twin Cities metro protect what they have worked hard to build. As a Lakeville native with a proven record in divorce cases, he understands that this process should not cost you a fortune or take longer than necessary. He will give you an honest picture of your options and tell you plainly what is worth pursuing.
What Counts As Dissipation Of Marital Assets?
Dissipation does not always announce itself. Some spouses take calculated steps to move money out of reach long before anyone files for divorce.
Some of the most common forms of dissipation we see in Minnesota divorce cases include:
- Spending marital funds on an extramarital affair
- Gambling excessively or accumulating casino losses
- Making secret bank transfers or large cash withdrawals before separation
- Selling marital property below fair market value
- Running up joint credit card debt for personal use
- Giving money to friends or family members with no expectation of repayment
Financial records typically provide objective evidence that courts find persuasive, and we know where to look. Bank statements, tax returns, business records and social media activity can all help build a compelling case.
How Minnesota Courts Handle Dissipation
Minnesota follows equitable distribution under Minn. Stat. Section 518.58. Courts divide marital property based on what is fair given the full circumstances of the marriage.
A judge can award you a larger share of the remaining marital estate to offset what your spouse wasted or hid. Courts may also add back dissipated amounts to the marital estate for division purposes.
Timing matters in these cases because the remedy often depends on whether the dissipation occurred before or after the valuation date. Ultimately, you carry the burden of proving dissipation, which makes strong documentation critical.
What To Do If You Suspect Your Spouse Depleted Assets
Acting early can make a meaningful difference in your case. Here is what we recommend:
- Gather financial records you can access now, including bank statements, tax returns and credit card statements
- Note any financial red flags such as large unexplained withdrawals or accounts you did not know about
- Before taking any action regarding suspected financial misconduct, consult with an attorney to understand your rights and obligations
With Dwire Law Offices on your side, we can assess your situation honestly and put protective legal measures in place.
Protect Your Assets From Dissipation During Divorce
A spouse can drain joint accounts and move assets quickly once a divorce is underway. You do not need to have everything figured out before you call; reaching out to an attorney early gives you more options and more time to act.
At Dwire Law Offices, we will listen to your situation, give you a straight assessment and help you take the right next steps. Call us at 952-232-0179 or contact us online to schedule a consultation.