Watching marital funds vanish during a separation causes immense stress and financial fears. Mississippi courts take the squandering of marital wealth seriously. If your spouse drains assets as the marriage breaks down, a court may view this as dissipation.
How to know if your spouse is dissipating marital wealth
Dissipation of assets refers to the wasteful, reckless or unjustified depletion of marital property by one spouse. You might notice suspicious activities like suddenly depleted bank accounts, hidden funds or unauthorized credit card debt. This often happens when one spouse knows the marriage is ending and tries to reduce the marital estate before a court can divide it. Your spouse might also change passwords or refuse to let you see basic financial statements.
Common types of wasteful spending
Finding these acts leads to spotting common types of money misconduct. You should watch accounts for unusual activity that might show a spouse is hiding or ruining value:
- Costly gifts for a new romantic partner
- Large gambling losses or sudden habit costs
- Failing to care for marital property or debt
- Too much spending on personal luxury items
- Moving funds to family or secret accounts
These actions can deeply impact the final property division process during a divorce.
How courts handle money misconduct
Mississippi is an equitable distribution state, meaning the court aims for a fair division of marital property rather than a strict even split. When dividing assets, chancery judges rely on the established Ferguson factors to achieve fairness. They may check bank records, credit card bills and tax returns. Most importantly, they review the timing of the spending and the intent behind the choices. If a judge finds that your spouse engaged in economic misconduct, the judge may award you a larger share of the remaining property to account for the dissipated assets.
How an attorney helps protect your financial interests
Keeping money safe requires a proactive approach when your spouse is draining assets to ensure that the division of property remains equitable. A Mississippi divorce attorney can help you document evidence of dissipation, present it to the chancery court and argue for an equitable share of the remaining marital estate.