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Securing Marital Property During a Divorce

In Separation & Divorce by Elizabeth Stephenson

The period of separation and divorce is like an emotional tsunami. Few people are prepared to the highs and lows of the experience, which is a time of incredible confusion and stress. Unfortunately, there are people who do not handle their emotions well, or who simply make bad decisions during this time. An example of this is when a spouse intentionally wastes or destroys marital property in order to punish the other spouse. Also known as the dissipation of marital property, the North Carolina General Statutes allow for a court to consider “Acts of either party to maintain, preserve, develop, or expand; or to waste, neglect, devalue or convert the marital property or divisible property.” As part of its equitable division, the court can then enter an order that gives …

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Dissipation of Marital Assets

In Separation & Divorce by Sarah Hink

Divorces can get messy. Incredibly, horribly, messy. People are angry and make decisions consistent with this rage. One of these decisions involves getting rid of marital property to punish their former spouse. North Carolina calls this dissipation of assets, which has serious repercussions for the perpetrator. What Constitutes Dissipation? The North Carolina legislature categorizes dissipation as acts of a party “to waste, neglect, devalue or convert the marital property or divisible property, or both, during the period after separation of the parties and before the time of distribution.” In other words, it is the act of depleting property from the marital estate. This is bad because the clear intent of a spouse who commits these acts is to reduce the amount that the other spouse gets out of the divorce. …