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When Does Gambling Constitute Asset Dissipation? 

 Posted on February 18, 2024 in Divorce

Blog ImageDivorce cases can be complex, especially when issues of asset dissipation arise. Gambling, in particular, can have significant implications on the division of marital assets. If you are going through a divorce and believe your spouse’s gambling habit may constitute asset dissipation, discuss this concern with your divorce attorney. Your lawyer will ensure any instances of asset dissipation are accounted for

Establishing Intent and Recklessness

To establish asset dissipation through gambling in a divorce case, it is crucial to demonstrate the intent or recklessness of one spouse in depleting marital assets. Courts consider several factors to determine if gambling constitutes asset dissipation, including:

  • Excessive gambling – If one spouse engages in excessive gambling, consistently risking substantial amounts of money, it may suggest a pattern of asset depletion and potential dissipation

  • Knowledge of financial obligations – If the gambling spouse is aware of his financial obligations, such as a mortgage payment, yet continues to gamble irresponsibly, it may indicate an intent to dissipate assets

  • Prior knowledge of divorce proceedings – If the gambling spouse has prior knowledge of the impending divorce and still engages in substantial gambling, it may be viewed as an intentional effort to deplete assets and avoid equitable distribution.

Impact on Marital Assets

The impact of gambling on marital assets is a crucial consideration in determining asset dissipation in a divorce case. If gambling results in the depletion of marital assets, it may be seen as a form of dissipation.

  • Neglecting financial responsibilities – If the gambling spouse consistently neglects their financial responsibilities, such as failing to pay bills or support obligations, due to excessive gambling, it may be viewed as an intentional effort to dissipate assets.

  • Hiding assets – In some cases, gambling can be used as a means to hide assets or divert funds from being subject to division in divorce proceedings. This can be seen as a form of asset dissipation.

Consequences of Asset Dissipation

When asset dissipation through gambling is proven in a divorce case, it can have significant legal consequences. These consequences may include:

  • Unequal division of assets – Courts may adjust the division of marital assets to compensate the non-gambling spouse for the loss caused by the dissipation. This aims to ensure a fair distribution of assets despite the gambling spouse’s actions.

  • Financial penalties – In cases where asset dissipation is established, courts may impose financial penalties on the gambling spouse to deter such behavior and protect the interests of the non-gambling spouse.

Contact Our Schaumburg, IL Divorce Attorney

If your spouse is dissipating assets through gambling, bring this to the attention of your divorce attorney. Contact the knowledgeable Schaumburg, IL divorce lawyers with A. Traub & Associates for the best legal representation. Call 630-426-0196 for a private consultation.

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