Claims of Dissipation of Assets in a Gray Divorce

 Posted on September 09, 2026 in Asset Division

The end of a long marriage can bring financial concerns to the surface, especially when one spouse believes money or property has been wasted. This can be especially troubling in a gray divorce, when retirement is approaching, and there is less time to rebuild savings.

If you are divorcing in 2026 and your spouse has misused or wasted marital assets, you may have a valid claim of "dissipation of assets." A Wheaton, IL gray divorce attorney can help you determine how wasted assets affect the division of marital assets.

What Is Dissipation of Assets in an Illinois Gray Divorce?

When a spouse misuses or squanders marital property before it can be divided in a divorce, Illinois law, under 750 ILCS 5/503, offers a remedy through a dissipation of assets claim. "Dissipation" refers to using marital money or property for a purpose that does not benefit the marriage while the marriage is experiencing an irretrievable breakdown. In other words, dissipation is squandering money or property while the marriage is nearing its end.

What Are Some Examples of Dissipation of Assets?

Dissipation of assets can take many forms. When you’ve been married for many years, this can have a large impact on your finances and what life might look like after your gray divorce.

Some examples to be aware of include:

• Spending money during an extramarital affair
• Purchasing gifts for an affair partner
• Selling property or using marital assets to fund a gambling addiction
• Physically destroying assets out of revenge or spite
• Failing to pay the mortgage or other bills
• Spending money or selling assets to pay for drugs or alcohol

Keep in mind that not every questionable expense is dissipation. The use of the money and when the spending occurred are important when determining whether marital property was dissipated.

How Long Do You Have to Make a Dissipation Claim in Illinois?

Illinois places specific time limits on dissipation claims. According to Illinois law, a spouse cannot claim dissipation for conduct that occurred more than three years before the spouse knew or should have known about it. A claim also cannot reach conduct that occurred more than five years before the divorce petition was filed.

The spouse making the claim must also give formal notice. The notice must be provided no later than 60 days before trial or 30 days after discovery closes, whichever is later. It must identify the property that was allegedly dissipated and provide the relevant time periods.

These deadlines make it important to raise concerns about missing or wasted assets with your attorney as early as possible.

How Can You Identify Wasted Assets During a Gray Divorce?

After a long marriage, there can be years of financial records to review. Bank statements and credit card records can help show where marital money went. Retirement account statements or records from the sale of property can also reveal transactions that need a closer look.

Unusual withdrawals, transfers, or purchases are worth discussing with your attorney. The discovery process in a divorce can also be used to obtain financial information that might not already be available to you.

For people divorcing after 50, identifying lost assets can be especially important. Money that was improperly spent could otherwise have remained part of the marital estate and helped provide financial security after divorce.

What Legal Remedies Are Available in Illinois for Dissipated Assets?

If your spouse has spent a substantial amount of money or wasted assets and you are getting divorced, the value of those assets can still be considered during property division. Illinois courts must consider each spouse's dissipation of marital property when dividing the marital estate in "just proportions."

If the court finds that dissipation of assets occurred, it can take the wasted property into account when dividing what remains. This can result in the other spouse receiving a proportionally larger share of the marital estate.

Contact a Wheaton, IL Gray Divorce Attorney

If you are divorcing after 50 and believe your spouse has wasted marital assets, Divorce Over 50 - Goostree Law Group can help you address dissipation during property division. Our attorneys represent clients facing the financial concerns that can come with ending a long-term marriage.

Contact a DuPage County, IL gray divorce lawyer today to schedule a free consultation or call 630-634-5050.