Property Division Attorney in Las Vegas Helping You and Your Spouse Agree on the Division of Assets and Property
Property division is one of the many tough decisions you will make alongside your spouse in divorce proceedings. It can be an emotional and fearful time as both parties want to ensure they are well-taken care of after divorce and get their “fair share” of marital assets, including any property.
The state abides by specific rules as it relates to dividing property. Nevada is a community property state meaning each spouse owns 50 percent of the assets and debts acquired in marriage.
Community property belongs to both spouses equally and must be split between both spouses. The same goes for the remaining debts incurred during the relationship, as both spouses are responsible.
There are different types of property and property division rules in Las Vegas, NV. Fuller Law Practice can review your marital property, such as community property, separate property, and other substantial assets in the dissolution of your marriage, and help you and your spouse divvy it up.
Our goal in family law matters such as property division is to ensure your rights are protected and your contributions in the marriage are respected and valued as part of the negotiation with your ex-spouse. At Fuller Law Practice, we are your advocate and partner.
When you and your spouse need assistance with property division and want to ensure you are getting a fair deal, visit our law firm’s website or reach us by phone: (720) 770-2475.
How is Property Divided in Las Vegas, NV?
Property and assets acquired during your marriage will be divided 50-50, so there is no question. This is the general rule of thumb, though there are sometimes exceptions, as Nevada is one of the 11 states that follow community property law. This is split two ways if you acquired substantial assets after marriage.
Community property is considered income, debts, cars, homes, stocks, investments, and other related assets purchased or earned during the marriage. In the same way, liabilities and debts will be divided, and both spouses are responsible. A mutual agreement can save you time and money ahead of court in agreeing on how to divide the property and assets, or mediation from an attorney can resolve any issues.
Under NRS 123.130, separate property owned by a spouse before the marriage, or any gifts or inheritance accumulated before marriage, are yours.
You must prove to the court, without a doubt, that you received these assets before you married your spouse or that the inheritance you obtained was a gift intended only for you.
Also, fault in the divorce does not play a significant role in awarding assets. Fuller Law Practice can help you and your spouse prepares for property and asset division and ensures a resolution is reached.
Speak with one of our experienced attorneys regarding your property division questions or needs through our consultation program. Contact us at: (720) 770-2475.
How are Assets Divided in Divorce?
Assets are divided per the community property state law and a 50-50 split, though there could be some hang-ups related to separate property if your spouse questions it. A judge follows specific factors when awarding property division to offer some clarity into the process.
- Each spouse’s income and earning potential
- Custody arrangements
- Both spouse’s financial resources
- Whether one spouse supported the other’s education and training during the marriage
- A spouse’s age, physical and mental health
- Other relevant factors
While a judge typically doesn’t use fault in the divorce as a measure of property division, a judge might consider any attempts by a spouse to misuse or gamble away money or assets for drugs and alcohol or other addictions.
Asset division is an economic decision, not moral, in a divorce case, and the court tries to be as fair as possible when making a final decision regarding assets and debts. A Las Vegas property division attorney with Fuller Law Practice can create a seamless experience from start to finish.
Learn more about Fuller Law Practice on our law firm website or contact us at a valid phone number: (720) 770-2475.
Is Alimony Considered Community Property?
Alimony or spousal support is not part of the community property law in Las Vegas, NV. It is separate from property and asset division. Alimony is awarded on a case-by-case basis in divorce proceedings, with consideration given to several factors, including the spouse’s career before marriage.
There are different types of alimony, including:
Alimony depends on a person’s age, health, and how they financially contributed to the marriage, whether at home taking care of the children and the home or in a job. For example, a spouse that was married for three to 20 years might be granted spousal support for half the years of the marriage.
If the marriage was longer than 20 years, a spouse might be granted permanent alimony as their age and ability to work might be less feasible. In Nevada, alimony law does not specify how long a couple must be married to receive alimony payments.
As life changes, alimony payments are subject to change with modification. Our family law attorneys are experienced in family law matters such as divorce, alimony, child custody, and child support needs and can help facilitate any modifications to your legal agreements.
If your alimony payments need to change or you believe you should no longer pay the original, agreed-upon payments, contact Fuller Law Practice, and we will review your case. Contact us at: (720) 770-2475.
How Can an Experienced Divorce Attorney Help with Property Division?
A property division lawyer can set the stage for the divorce process, including asset and property division. Most people want to know how much they can expect to receive related to finances, property, and personal belongings.
Sometimes in the divorce process, couples are prone to arguments and disputes over money, property, and their children. One of the benefits of working with Fuller Law Practice is that we understand the position you’re in, and we’re empathetic to it.
We use mediation, negotiation and our experience in divorce and other family law matters to resolve cases as quickly and efficiently as possible, and always with your best interest in mind. With family law matters, you want that one attorney you can turn to for consistent legal guidance and support in various issues before a problem arises, in urgent situations, and in long-term planning.
More than just property division attorneys, Fuller Law Practice is a full-service family law firm with experience in divorce, child support, child custody, adoption, modifications, and other family law matters.
Visit our law firm’s website and contact our experienced attorneys to discuss your property division case through our consultation program. You also can contact us by phone at: (720) 770-2475.