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Asset dissipation in a divorce

Occasionally, one spouse in an Oklahoma divorce will try to hide assets or waste them in order to keep the other spouse from getting his or her fair share of the marital estate. This behavior can be very detrimental to lower-earning spouses who may depend on their portion of the marital estates to take care of themselves independently after the divorce.

Dissipating assets is when a spouse frivolously spends or wastes money out of spite. They may spend it on lavish trips with a girlfriend, give it away to friends or family members or do other such things that are out of the ordinary for the their normal spending habits. The amount involved is substantial in dissipation cases.

In order to prevent a spouse from dissipating assets or trying to conceal them, Oklahoma law provides for the issuance of an automatic temporary injunction upon the filing of divorce petitions. Among other things, this prohibits both spouses from dissipating assets or hiding them. If a spouse violates the injunction he or she may be held in contempt by the court and face jail time. Despite the law, some spouses still attempt to hide or waste assets out of spite.

A person who is involved in a high-asset divorce might want to talk to a family law attorney. If the person believes that his or her spouse may have hidden accounts or have given away property in order to remove it from the marital estate, the attorney may get the help of forensic accountants to uncover all hidden accounts and assets.

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