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Las Vegas Divorce Attorneys. Las Vegas Divorce Lawyers.
| Please Note: |
Nevada is a "community property" state. Just because your name is not on the title of an asset, does not, by itself, mean that you have no financial rights to a community portion. This is one of the most misunderstood aspects of Las Vegas divorce cases. One example of this is when a residence is titled in only one spouse's name. |
Property Settlements
Whether you own one home, or a multitude of complex assets, the Property Settlement in your divorce case will have a lasting impact on your post divorce lifestyle. Regardless of the circumstances, you deserve your fair share of the marital assets. This may also include Hidden Assets.
Property Settlements can include both tangible and intangible assets.
Tangible assets are physical assets such as cash in banks, homes, vehicles - including recreational ones, boats, businesses, investments, real estate rental and investment properties, stocks, trusts, bonds, pensions, 401Ks, IRAs, etc.
Intangible assets are not physical in nature. These asset types can include stock options, the goodwill value of a Professional Practice, patents, copyrights, the value of the celebrity status of a spouse's name, etc.
Assets Owned Prior to Marriage
Increasingly, individuals are entering into marriage with substantial assets that have been accumulated prior to the date of marriage. The two main reasons for this are:
- The general populous is marrying for the first time later in life, and have had profitable careers already.
- Second marriages, and beyond, are common.
Assets owned solely by one spouse prior to the date of marriage are considered on an individual basis in each divorce case. It is not practical to detail every possible scenario here because the complexities are virtually limitless.
In general, assets owned prior to marriage that have been kept "sole and separate" during the marriage, have a greater probability of being deemed the sole property of one spouse. Those assets that have appreciated during the course of the marriage, or have been "commingled" , have a greater probability of containing a community property portion.
Las Vegas divorce attorneys, Jennifer V. Abrams and Vincent Mayo are experienced in determining the condition of an asset owned prior to marriage, and how it should be treated in the Property Settlement.
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