High asset divorce in Massachusetts: The dissipation of assets
Some couples make the decision to divorce gently and amicably. However, some couples involved in a high asset divorce in Massachusetts might have trouble accomplishing that. There is much at stake financially and when money and assets are involved, negative emotions can run rampant, making it hard to make logical, unemotional decisions. When one spouse — in most instances, a husband — wants to keep from having to split assets, he may try to dissipate them.
Dissipate is a term used when one partner intentionally mishandles assets to keep the other spouse from getting them. Some spouses with a high net worth would rather spend the money than split it with a soon-to-be former spouse. Some states — Massachusetts among them — issue an Automatic Temporary Restraining Order (ATRO) as soon as the divorce action is filed in order to prevent either party from doing just that..
An ATRO can be of significant help if one spouse suspects the other of squandering assets. A spouse who suspects her partner of doing this should be mindful of joint bank accounts, and joint credit card statements. Hiring a forensic accountant may also be wise. They know what to search for when it comes to mishandling or hiding assets.
A high asset divorce can come with many complexities. A Massachusetts lawyer can help his or her client to analyze the situation. Courts don’t look kindly on the intentional dissipation, waste, depletion or destruction of assets within the marriage. When marital assets are significant, it is essential that each party involved have an experienced legal team to protect individual financial interests.
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