Ruggiero and Associates, Divorce

Vincent Ruggiero, an attorney since 1984, concentrates in high-conflict divorce cases, yet has efficient and friendly staff to keep costs to a minimum in so-called uncontested divorce cases. Read for free the FAQ section of his information-packed website at www.RuggieroFamily.com, or call for an initial consultation at 630/654-0044. Mr. Ruggiero is also a CPA, certified mediator, licensed real estate broker and is a formerly i) a law associate of one of the 20 largest law firms in the nation ii) bank vice president iii) real estate college instructor and iv) fellow with the Illinois Collaborative Law Institute.

NEW LAW ON DISSIPATION

For too long, one party in a divorce finally gets interested in the finances, and forces the other party to basically account for years of expenditures or investments gone bad, or what have you. Anyway, it is a nightmare trying to obtain old documents, and to recall such things. Yet, if you don't account, you can be accused of "dissipation" and made to pay the accusing spouse. And sometimes the accusing party would make such an accusation days before trial, causing the defending spouse to try to overcome a bank or other institution's resistance to cooperate in retrieving an old document.

Now a party's claim of dissipation is subject to the following conditions: a notice of intent to claim dissipation shall be given no later than 60 days before trial or 30 days after discovery closes, whichever is later; the notice shall contain, at a minimum, the time period during which the marriage began undergoing an irretrievable breakdown, an identification of the property dissipated, and the time during which the dissipation occurred; the notice shall be filed and served pursuant to applicable rules; and no dissipation shall be deemed to have occurred prior to 5 years before the filing of the petition for dissolution of marriage or 3 years after the party claiming dissipation knew or should have known of the dissipation. At least now, missing money from over 5 years ago, is not really an issue.