Dividing property during a divorce can be a stressful and contentious undertaking. Even when a couple has significant assets, each spouse has a right to his or her fair share of community property, which typically includes any assets accumulated during the time they are married. Unfortunately, one spouse may take drastic steps to prevent the other from obtaining a fair portion of community property.
The intentional dissipation of marital assets occurs when one spouse wastes, sells or even destroys property that is on the table for division during a divorce. Rocky star Sylvester Stallone is facing such allegations now as he prepares for divorce from his wife of 25 years, Jennifer Flavin. Following her divorce filing, Flavin claims Stallone intentionally dissipated assets belonging to the marital estate. She is asking the court to award her a larger share of assets during the divorce to make up for the loss.
Even it out
Stallone denies having intentionally wasted or depleted any of the couple’s significant assets, which includes a multi-million dollar home in an exclusive neighborhood. Reports say Stallone plans to fight to retain ownership of the home as well as rights to future earnings, which Flavin is seeking. However, in cases where one spouse can prove the other spouse has dissipated marital assets, there may be little room for leverage.
Allegations of asset dissipation could require investigation into the spending and transfer of property. Anyone in Texas going through a divorce where asset dissipation is suspected will want professional assistance. This often includes an attorney who has the experience and resources for handling the unique issues of a high asset divorce.