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Keeping track of your finances is a key aspect during your divorce proceeding. Your attorney will ask for all of your credit card and bank statements from a specific period of time during the discovery phase of your divorce proceeding. Collecting and organizing your financial records is important in order to see how you and your spouse spend your money.

What is Dissipation?

Another reason to collect your financial records is to see if your spouse has dissipated your marital assets.

  • According to the Illinois Marriage and Dissolution of Marriage Act, dissipation of marital assets occurs when one spouse uses

Continue Reading What is dissipation and why should you be aware of it in a divorce proceeding?