Dissipation of Income in a Marriage
Marital Property Defined Generally, marital property is all property acquired during the parties’ marriage. Marital property usually includes property that is solely titled in one spouse’s name, such as a house or vehicle. This rule also applies to each spouse’s income, and many other financial assets. Since a marriage is not only a romantic commitment but also a legal union, spouses essentially become one financial entity. This is why spouses can split up financial assets such as income during divorce....
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