Dissipation is the unjustified wasting of matrimonial assets. Dissipation can take many forms and requires a degree of intent. It is generally sufficient if one spouse intends to dissipate the assets—usually for their own enjoyment—and that dissipation arises in detriment to the other spouse. Common examples of dissipation include extravagant holidays and foolhardy investments. Fortunately, the Alberta Matrimonial Property Act provides relief for spouses affected by dissipation. However, litigating dissipation is costly and relatively complex.
The best way to deal with dissipation is to prevent it from happening in the first place. If a court is satisfied that a spouse intends to transfer property or make a substantial gift of property that may defeat the claim of the other spouse, the court may order that the transfer or gift not be allowed. The court can grant a freezing order, an injunction, or a caveat can be registered on real property.
If you believe your spouse intends to dissipate marital assets, it is in your best interests to contact a matrimonial lawyer to discuss your options. Proskiw Law can be contacted at 780-665-4944.