View Post

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. …