Divorce Attorneys in Las Vegas Archives

Do You Qualify for Alimony Payments in Your Divorce?

Posted on August 12, 2021 | by The Abrams Law Firm LLC

One of the most contested issues in divorce cases concerns alimony payments. Typically one party thinks they deserve it and the other party doesn’t want to pay it, or at least not the full amount that’s being asked for. In this article our Las Vegas divorce attorneys set the record straight on alimony payments.

Temporary Support and Alimony

During the divorce proceedings one spouse may qualify for temporary spousal support. This form of support is sometimes confused with alimony, but the two are significantly different. In short, temporary spousal support is the payment of funds from one spouse to the other, while the divorce proceedings are ongoing. Typically temporary spousal support is for everyday living expenses and, at times, attorney’s fees. The support ceases once the divorce matter concludes. Alimony, if any, occurs as a part of the Decree of Divorce, which is the final agreement between the divorcing spouses. So the of payment of alimony is from one ex-spouse to the other.

Why is Alimony So Complicated?

Divorce matter finances and other marriage particulars affect whether alimony payments are warranted. There are many factors to consider but the most important one is that there are no Nevada statutes that specifically define what makes alimony appropriate or not. And even if it is deemed appropriate, the amount and terms are not defined anywhere. It’s the ultimate divorce crap-shoot. The lack of statutes governing alimony should not be confused with the “Tonopah Formula” which is a set of general guidelines that some, but not all, family court judges may use to consider alimony requests. Guidelines are suggestions, not laws. And even if a judge does use them, each judge may interpret the guidelines differently. This leaves a large legal gray area and is the reason why alimony is so complicated. These complications make having the best divorce attorney for your case facts all the more important.

How Are Alimony Payments Structured?

Also significant is that there is no formula or even guidelines on how much alimony payments should be and for how long. Even the loosely used Tonopah Formula does not offer a payment amount calculation method. Like any other aspect of a divorce case, the structure of alimony payments is defined on a case by case basis. In general there are several payment methods that are routinely used:

Lump Sum Payment – This is a one-time payment at the conclusion of a divorce matter.
Monthly Payments – Typically these payments are for a limited time period covering months or years.
Life-Time Payments – This is the rarest of all alimony awards. Very few divorce matters end up with a negotiated settlement or court ruling for life-time alimony.

Can Alimony Payments Be Terminated?

Experienced divorce attorneys always include a clause in the Decree of Divorce that terminates alimony payments if the receiving party remarries – as long as it is to the benefit of their client. Rather than termination of alimony payments, modifying the payments is more common. There are numerous factors that can validate a request for a change in alimony payments with the most common being a substantial change in financial circumstances of the ex-spouse making the payments.

Are Alimony Payments Taxable?

Since 2019 alimony is no longer income tax deductible for the ex-spouse making the payments. The ex-spouse receiving the payments also does not have to report alimony payments as taxable income. The federal government made this change to increase the total income tax amounts they can legally collect with the thinking that removing tax deductions from the higher income earning ex-spouse will increase overall tax revenues.

The Bottom Line on Alimony

The divorce attorneys for both spouses are largely responsible for whether their client receives a favorable decision regarding alimony issues. There are too many concepts and not enough actual laws for it to be any different. If you have a lot at risk in your divorce matter, alimony is more than likely just one of your concerns. It’s always best to retain legal counsel commensurate with what you have at stake whether that is alimony, property distributions, or child custody disputes.

Las Vegas Divorce Attorneys for You

Our Las Vegas divorce attorneys have extensive experience in complex divorce matters including those that relate to alimony claims. Call our office at 702-222-4021 to speak with one of them to schedule a consultation.

Bill Gates Divorce

Posted on June 16, 2021 | by The Abrams Law Firm LLC

Bill Gates, the world’s fourth-richest person, and his wife, Melinda, recently announced that they are getting a divorce after nearly 30 years of marriage. They have an estimated combined net worth of $144 billion. The divorce was filed in King County Superior Court in Seattle, Washington. The divorce has captured public attention and has raised a number of questions in the divorce legal field. Read on for a discussion by our divorce attorneys in Las Vegas for several of the interesting issues in the Bill Gates divorce.

Grounds for the Bill Gates Divorce

Nevada is a purely no-fault divorce state. That means that parties cannot file for divorce based on evidence of wrongdoing such as abuse, adultery, or abandonment. Instead, parties are limited to one of a few no-fault grounds including incompatibility, separation, and insanity. Washington State, likewise, is a pure no-fault divorce state. In their divorce case, Melinda filed a petition for divorce on the grounds that the marriage is “irretrievably broken.” Bill Gates joined in the filing.

Issues in High Asset Divorces

Divorce attorneys know that high asset divorces raise unique and complex legal issues. Valuing and distributing complex assets like business ownership, real estate, and retirement plans can require the use of CPAs and other financial experts. Special court orders such as Qualified Domestic Relations Orders (QDROs) may be necessary for pensions and retirement plans. Because of the complicated nature of QDROs, there are certain of divorce attorneys that specialize in these complex documents.

Business considerations, professional relationships, and tax implications are likely to come into play in high asset divorces. The lives of employees and the financial well-being of shareholders may also be affected, but this is not an issue in the Gates’ divorce action. Moreover, couples who are in the limelight, especially those who are the public face of a company or brand, may have concerns about how their personal and professional lives will be affected by the divorce.

Bill and Melinda Gates present the ultimate example of a high-net-worth divorce. They have a number of extremely valuable assets, as well as many assets that require complex valuation and processes to apportion. Though the exact nature of their prenuptial agreement is not public, the couple’s assets include, among other things:

Over $166 million in real estate assets, including properties in several U.S. states and a private Caribbean island
Art valued at nearly $130 million
A $30 billion holding company funded with Microsoft assets with multiple interests in hotels, auto dealerships, and the Canadian National Railway
Shares in Microsoft worth more than $26 billion
Billions in cash and other liquid assets

Disentangling the ownership interest in these various assets will require significant legal work and financial expertise by the respective divorce attorneys for each party.

A Separation Agreement Keeps it Out of the Courtroom

Divorces can be difficult and time-consuming at the best of times. With the volume of assets and number of complicated issues raised by the Gates’ divorce, a combative proceeding could take years and cost millions of dollars in discovery, expert fees, and divorce attorney fees. Bill and Melinda Gates, however, appear to have taken pains to avoid a protracted court battle. Instead they have opted to resolve all of their issues in advance of their divorce filing.

As part of the divorce filing, they announced that they have a separation agreement in place. A separation agreement, prepared by experienced divorce attorneys, is a contract between divorcing parties to resolve all issues. This is much more preferable than having the court decide matters. The separation agreement is basically a divorce settlement that the parties’ divorce attorneys draft before filing for divorce. In the State of Washington, a court will generally be bound by the terms of the separation contract. The exception is if the court determines that the agreement was unfair when signed. If the judge deems the agreement unfair, then the court can invite the parties to dispute the matter and resolve any particular issues that gave rise to the finding. This is not expected to happen in the Gates’ divorce case.

The separation agreement suggests that the parties have worked extensively with their respective divorce attorneys and financial experts to evaluate their finances and resolve all divorce matters as conclusively as possible. Doing so saves time and effort in the courtroom and avoids the spectacle of a drawn-out public court battle. Deciding upon the terms of the agreement required not only negotiation over the assets to be kept by each party, but also significant considerations pertaining to business ownership, taxation, estate planning, gifting, assets to be distributed to their children, and other possible consequences of the massive amount of financial interests at stake.

No Custody or Child Support Issues

Bill and Melinda Gates do not have any minor children. But any divorce involving shared children can create several challenges. This is especially true when one party has significantly higher net worth and income. It would be a fascinating look at child support laws and court construction to establish whether Bill, the wealthier party, would owe any child support to Melinda, who is also worth billions of dollars. Of course, that would depend in large part on the custody arrangement.

As it stands, however, the couple has only adult children. It appears that the couple intentionally waited to file for divorce until after their youngest child achieved the age of majority. Adult children do not give rise to custody disputes, and they are not entitled to receive child support. There are also personal, familial reasons to wait until all the children are adult-aged to file for divorce. Though only their divorce attorneys know for sure, Bill and Melinda Gates likely accounted for their children in their separation agreement regardless.

What Happens to the Bill and Melinda Gates Foundation?

The Gates family is also known for its extensive charity work. The Bill and Melinda Gates Foundation is a massive charitable organization directing as much as $5 billion in annual grants (totaling more than $55 billion over the years) in 135 countries across the globe. Bill and Melinda are co-chairs of the Foundation, raising questions as to what will happen to the charitable organization after their divorce. Couples who co-own for-profit or non-profit companies face a host of complex legal issues when deciding how to split up the businesses in the divorce.

According to the couple, in this instance, many of those questions can be side-stepped. Bill and Melinda plan to remain as co-chairs and trustees of the Foundation, and they plan to continue to set the agenda for the organization, regardless of their divorce. Prominent divorce attorneys have speculated that, should they find themselves unable to work together in the future, the decision-making structure of the foundation would likely need to change.

Notably, the charity’s $50 billion endowment is in a charitable trust that is non-revocable. It is extremely unlikely that funds in that trust can be removed or apportioned as a marital asset, meaning that grant recipients should not be affected.

Get Effective Legal Advice and Representation from Las Vegas Divorce Attorneys

Our dedicated divorce attorneys in Las Vegas are ready to help you navigate all aspects of your divorce case. Call 702-222-4021 today to speak with one of them about a consultation.

Pensions and Divorce in Las Vegas

Posted on June 10, 2021 | by The Abrams Law Firm LLC

Not all assets in a divorce are as simple to divide as a bank account or a house. Some assets require complex valuation and additional legal hurdles in order to be properly distributed in divorce proceedings. Pensions and other retirement accounts raise a number of valuation issues, tax concerns, and legal technicalities. Divorcing spouses with a pension plan need the guidance of experienced Las Vegas divorce attorneys. The division of a pension plan not only requires complex calculations; it must also adhere to federal law. In this article our divorce attorneys discuss the complexities of dealing with pensions and divorce in Las Vegas.

Pensions Are Community Property in Nevada

Absent an enforceable pre or post nuptial agreement, property acquired during the marriage is presumed to be community property. Nevada statutes and case law make clear that pensions are considered community property. This includes both vested and unvested pensions. If one spouse believes that the property is sole and separately theirs, the burden of proof is on them. This is not an easy burden to overcome in any case and even more so when dealing with pensions.

How to Divide a Pension in Divorce

As a matter of practice, the pension should be dealt with during the divorce, rather than waiting until the pension funds are distributed. If both parties have pensions roughly equal in value, the best approach is to simply let each spouse keep their own pension funds. If one spouse’s pension is worth significantly more, then the divorce attorneys for each party will need to decide how to go about apportioning the value. The easiest option is to have the pensioner keep their entire pension but distribute their share of community assets to the other spouse to offset the pensioner keeping the full pension.

The complex part is calculating the pension values currently and over time, and the amount of each spouse’s share. Depending on the nature of the pension, the divorce attorneys for the parties may employ financial experts such as actuaries or CPAs to determine the expected value of the pension. Once the numbers are set, the other spouse could get stocks, or cash in a bank account, or even the house as an offset. This approach avoids wading into the more complicated waters of actually dividing up pension funds.

Qualified Domestic Relations Orders

In order to divide pension assets, a legal document called a Qualified Domestic Relations Order (QDRO) is required. QDROs are required for any pension plan that is governed by the Employee Retirement Income Security Act of 1974. Without a QDRO, the plan administrator lacks the authority to distribute funds to anyone other than the pensioner. The use of a QDRO also avoids tax penalties that can arise when retirement funds are accessed in advance of retirement. A QDRO is a complex court order that includes:

A calculation of the value of the pension
Instructions as to how pension funds should be distributed to the pensioner
Instructions for the distribution of pension funds to another party
Grants authority to the pension administrator to distribute funds accordingly

QDROs may not be included in the actual divorce decree. Often, the decree will simply refer to a QDRO that will be filed in the future. The QDRO is typically drafted by some combination of each party’s divorce attorneys with help from CPAs and other pension benefits experts. The QDRO will then be reviewed, approved, and so-ordered by the court.

Our Las Vegas Divorce Attorneys Protect Your Financial Future

You deserve your full share of a pension and/or other complex marital assets. These types of assets require the skills of divorce attorneys in Las Vegas with ample experience in such matters. We will provide sound counsel during your divorce proceedings and lead you every step of the way. Resolution is achieved through negotiated settlements in the majority of divorce cases. However, we are equally adept with trial litigation. Call 702-222-4021 to speak with one of our Las Vegas divorce attorneys.

Divorce Attorneys - Temporary Spousal Support

What is Temporary Spousal Support?

Posted on May 15, 2021 | by The Abrams Law Firm LLC

Nevada law provides for several different types of spousal support. Depending on a number of factors, if one spouse in a divorce proceeding has a higher income than the other, a court may award temporary spousal support during the length of the proceedings. This temporary support is designed to help the lower-income spouse pay for living expenses until the divorce is final. Some people confuse temporary spousal support with alimony. Alimony payments, if any, occur after the divorce proceedings have concluded. An award of temporary spousal support means that a spouse needing support doesn’t have to wait until the divorce is final. Temporary spousal support can also cover fees for your divorce attorney. Continue reading to learn about temporary spousal support and the other types of support available to you. You can also call our experienced Las Vegas divorce attorneys for help with spousal support, alimony, and all other divorce matter issues.

How Does Temporary Spousal Support Work?

Temporary spousal support, also called temporary maintenance, refers to spousal support granted during the pendency of the divorce, rather than after the divorce is finalized. Temporary spousal support may be available where one spouse is financially dependent upon the other and is otherwise unable to cover their living, shared child, and divorce attorney’s fees while the divorce is still pending. Knowledgeable divorce attorneys also include case costs in motions for temporary spousal support.

According to Nevada Revised Statutes (NRS) section 125.040, a court may award temporary spousal support during the pendency of a divorce lawsuit in order to:

Provide for temporary maintenance of the party;
Provide for temporary maintenance for shared children, or
Enable the party to carry on or defend the lawsuit (divorce case)

Temporary spousal support may thus be granted to provide for the basic expenses of one of the spouses, to take care of the parties’ children, or to ensure that a party can cover their legal expenses and proceed with the divorce under the guidance of a qualified divorce attorney. The court will consider the financial circumstances of each party and other relevant factors in determining whether to award temporary support.

Other Types of Support Available

Nevada law permits family courts to award three other types of spousal support after the divorce proceeding is concluded. These three types concern alimony awarded upon conclusion of the divorce proceeding including:

Rehabilitative alimony. Rehabilitative alimony is the most common form of alimony in Las Vegas divorce cases. The court expects that the spouse will be self-sufficient at some point, but will require time, education, and job training to reach financial independence. This type of alimony is intended to support a spouse while they obtain the skills and education necessary to be self-supporting; it is meant to end once it is no longer necessary. The spouse receiving rehabilitative alimony will be required to make good faith efforts toward financial independence.
Short-term alimony. Short-term alimony is awarded when one spouse is financially dependent upon the other, but should be able to achieve financial independence in a relatively short period of time. A specific end date or event will trigger the end of the alimony payments. For example, a court may decide that a spouse needs 12 months of short-term alimony to become financially independent.
Permanent alimony. Permanent alimony, also called lifetime alimony, is spousal support with no established termination date or termination event, aside from the death of either party or the remarriage of the recipient. Savvy divorce attorneys often include a life insurance policy provision to ensure alimony payments in the case of the death of an ex-spouse. This form of alimony is far less common than the other two forms. Permanent alimony is typically reserved for long-term marriages where one spouse is not able to become completely financially independent. For example, if the spouse was a homemaker for 30 years supporting the marriage and the family and was never employed outside the home.

Expert Legal Counsel from Our Las Vegas Divorce Attorneys

Talk to our Las Vegas divorce attorneys about your options for temporary spousal support or alimony. Our experienced divorce attorneys are ready to lead you through all aspects of your divorce case. You will benefit from our dedicated legal counsel through every phase of the proceedings. Our Las Vegas divorce attorneys will speak with you directly regarding a consultation. Call our office at 702-222-4021 to speak with one of them and see if what we offer is right for you.

Our Divorce Attorneys in Las Vegas Are Different

Posted on September 29, 2020 | by The Abrams Law Firm LLC

There are many factors to consider when evaluating which divorce attorney is the one best suited to represent you. It’s important to recognize that your case and concerns are unique. We also recognize that the level of expertise we provide is not required for every divorce case. Only you can determine what’s best for your case. The following highlights how and why our divorce attorneys in Las Vegas are different.

Enhanced Two Hour Consultations

Your legal representation begins with a formal consultation which lasts approximately two hours. While many divorce attorneys provide free initial consultations, we do not. That’s because it’s not possible to create a strategy for success and an initial implementation plan without spending the appropriate time getting to know you and your concerns. This is particularly true in the complex divorce cases that we routinely handle.

Boutique Divorce Law Firm

It is also important to understand that not all divorce attorneys have the same expertise and skill-set. There is a huge difference between a general practitioner and a divorce law expert. Our legal specialty has been exclusively dedicated to divorce and divorce related matters for over two decades. We are a boutique divorce law firm and only work with a certain amount of clients at one time.

Divorce law, like all law practice areas, changes on a regular basis. This is caused by new legislation, new case law precedents, and societal social changes. For example, our divorce attorneys often handle cases where there are substantial assets before and during the marriage and/or a business that is owned by one or both spouses. These financially sophisticated matters require a divorce attorney who has considerable experience with such cases.

An attorney’s familiarity with the Clark County Family Court Judges is also a significant factor in deciding the best divorce attorney for you. Just as your divorce matter has unique circumstances, each family court judge has their own unique tendencies in how they rule in divorce matters. It is definitely not a “one size fits all” family court. Our divorce attorneys know the tendencies of each family court judge because they have appeared before them in hundreds of court hearings and trials.

Your Divorce Attorney Directly Works Your Case

There’s a little known aspect of divorce law practice that many other divorce attorneys in Las Vegas employ: The divorce attorney is a figure head for initial consultations and court hearings but doesn’t actually do the majority of the work on your case. This is particularly true in divorce law firms that use a “volume based” business model.

At our law firm, one of our attorneys actively works each case. One of them will directly communicate with you on all important case issues. Our communications philosophy is a two way street. We recognize that you may have an emergency or urgent need to communicate with your attorney. Every client at our firm receives their divorce attorney’s private cell phone number for use in these instances. This form of communication is available 24 hours a day, 7 days a week, including holidays.

We are able to accomplish this level of communication and legal representation because we are a boutique divorce law firm. That means we do not operate on a volume of clients so you’re never “just a number” to us. You deserve personalized attention from your divorce attorney and we provide it to every client.

State Bar of Nevada Certified Divorce Law Experts

Our founder, attorney Jennifer V. Abrams, and our firm’s named partner, attorney Vincent Mayo have achieved the highest accreditation for divorce law from the State Bar of Nevada: They are Certified Family Law Specialists with a combined 35+ years of legal experience dedicated exclusively to divorce and marital law matters. This distinction has been achieved by less than 1% of the licensed attorneys in Nevada.

Certified Paralegal Support Staff

Another often overlooked issue when deciding the best divorce lawyer for you concerns the term “paralegal”. In Nevada anyone can call themselves a paralegal. No training whatsoever is necessary. However, a “certified paralegal” is quite different. Certified paralegals are required to complete rigorous training by an accredited college or university.

Every paralegal at our divorce law firm is certified and has years of experience working on divorce cases. They each work under the direct supervision of either Jennifer V. Abrams or Vincent Mayo. This distinction is important. The supervision goes well beyond a commodity-like assignment. Each certified paralegal is directly involved in all aspects of your case and may also contact you directly according to the instructions of attorneys Abrams or Mayo.

Negotiated Settlements and Complex Litigation

Our divorce attorneys are highly skilled at both negotiated settlements and complex litigation. It’s important to understand the difference between the two because they often overlap. The best divorce attorneys know that the majority of divorce cases begin as contested matters but are resolved through negotiated settlement. In other words, the case does not go to a trial before a family court judge. However, in order to achieve a successful negotiated settlement, there is considerable legal acumen and work required. That’s because case settlement is never guaranteed and your divorce attorney must always be prepared to go to trial if need be.

In order to achieve a successful negotiated settlement or to prevail at trial, your divorce lawyer must gather and analyze numerous financial documents. If your spouse will not provide the documents voluntarily a subpoena will be served on one or more financial institutions. These institutions are required by law to provide the requested documents.

Child Custody Issues

Child custody and support must also be addressed in any divorce case that involves children. In instances where primary child custody and/or child support amounts are contested, your lawyer must investigate all aspects of the relationship between the child (or children) and both parents. This can entail interviewing other family members and, in certain cases, reports or testimony from child custody experts.

Expert Divorce Attorneys for You

Regardless of whether your case is resolved by a negotiated settlement or through trial, your divorce attorney must be well versed in all aspects of your case. The best divorce lawyers know the information they need to produce the best results. It is important for you to feel comfortable discussing any and all divorce related issues. The best outcomes can only be attained through complete transparency between you and your attorney. Our Las Vegas divorce attorneys will speak to you directly and assist you in setting up a consultation. Call our office at 702-222-4021 to speak with one of them and see if what we offer is right for you.

How Can You Challenge a Las Vegas Prenuptial Agreement?

Posted on September 23, 2020 | by The Abrams Law Firm LLC

Prenuptial agreements, often called “prenups,” are contracts entered into between parties in anticipation of marriage. Prenups are increasingly common among couples marrying in the 21st Century, and no longer just reserved for the wealthy and the famous. Family courts may, or may not, defer to prenuptial agreements when it comes to dividing marital property and deciding other economic issues in a divorce. If you are stuck with a prenup that leaves you with nothing or less than you deserve, what are your options? We discuss how you can challenge a Las Vegas prenuptial agreement below.

The Prenup is Invalid

The principle way to challenge a prenup, either before or during a divorce, is to establish that the agreement itself is invalid. Prenuptial agreements are civil contracts. This means that they follow the principles of contract law. There are various legal grounds commonly used to establish that any sort of contract is unenforceable because it was invalid when executed. If your divorce attorney in Las Vegas can demonstrate that a prenup is invalid, then it will have no legally binding effect on your divorce proceeding. The typical grounds to invalidate a prenup include the following:

Lack of Independent Legal Counsel

Your spouse must provide you the opportunity to secure the advice of your own attorney. Using your spouse’s attorney is not good enough unless you agree to it. Nonetheless, if you choose to use your spouse’s attorney or decline to get your own independent legal counsel, your decision to do so must be in writing and not relate to any other grounds for invalidity.

Adequate Time Frame

If your spouse did not allow you an adequate time frame for you to review the prenup, or have your independent divorce attorney review it, you may have an argument for ruling the agreement invalid.

Fraud, Misrepresentation, or Deception

A prenup is invalid if a party can prove that they were tricked into entering the agreement. If you can show that your spouse lied about material matters pertaining to your marriage, or hid assets or financial obligations when negotiating the prenup, then you have a case for getting the prenup ruled invalid.

Involuntary Signing

A prenup is only valid if both parties entered into the agreement voluntarily. If one party was coerced into signing the prenup through force, threats of force, threats of financial ruin, or other forms of coercion, then the agreement may be invalidated.

Capacity

Contracts are only valid if the parties who enter into them are of sound mind and of legal age. If one party to a prenup lacked the capacity to consent, then the agreement may be ruled invalid. A party might lack capacity if they were intoxicated at the time of signing, if they have a mental disorder, or if they were not a legal adult when they entered the agreement.

Unconscionability

The Las Vegas Family Courts may invalidate a prenuptial agreement if the terms are so shocking that they run afoul of public policy. In simpler terms, unconscionability means that the agreement favors one party so much more than the other that the courts find it invalid.

Unenforceable Terms

In addition to invalidating the agreement in its entirety, a party can refuse to comply with certain terms of a prenup that are legally unenforceable. Not everything is subject to contract, and there are terms common to prenuptial agreements that the law refuses to enforce on public policy grounds. Specific terms that are not enforceable in prenups include:

Child Support

Child support is a legal obligation owed to the child, not a parent. A prospective couple cannot include a term in a prenup that lowers the amount of child support one parent will owe in the event of divorce. A prenup can be used, however, to agree to a greater child support obligation than that required by law.

Illegal Conduct

A prenup, like any other contract, cannot call for a party to violate the law.

Child Custody

A prenup cannot preemptively determine child custody. The parties and the court will decide upon child custody based on the best interests of the children at the time of divorce.

Alimony

A prenup can limit alimony to some extent, but it cannot eliminate alimony altogether or set alimony at too low a level if either action would leave one party destitute.

Best Interests of the Child

A prenup cannot waive the court’s right to determine the best interests of the child for specific purposes.

Las Vegas Prenuptial Agreement Experts

Our divorce lawyers in Las Vegas have decades of experience with complex prenuptial agreements, including those covering hundreds of millions of dollars. They are ready to draft and execute a valid prenuptial agreement or challenge invalid provisions in an existing agreement. One of our lawyers will explain to you what we offer our clients. Then you can decide if a consultation is right for you. Call our office at 702-460-8005 to personally speak with one of them.

Advantages of Filing for Divorce First

Posted on September 7, 2020 | by The Abrams Law Firm LLC

Many clients who are considering the prospect of divorce ask whether it is better to be the one who files, or if it is better to be the party to respond. For divorce cases the answer is clear: There are advantages of filing for divorce first. In legal terminology, the person who files is known as the plaintiff, the respondent is called the defendant. Being the plaintiff in your divorce gives you several key advantages, even if your divorce is likely to be amicable. Below, we discuss several of the benefits of being the party who files the complaint for divorce.

Hiring the Best Las Vegas Divorce Attorney for You

After your attempts at reconciliation are unsuccessful and you know that divorce is inevitable, you need hire the best Las Vegas divorce attorney for your case before your spouse contacts the same attorney. If your divorce case is complex, especially with financial or child custody issues, there is a finite set of divorce lawyers in Las Vegas qualified for such matters. It is not uncommon for our office to be contacted by both divorcing spouses at different times. After one party receives a formal consultation from one of our divorce law specialist attorneys, we cannot speak to the other spouse. In fact, we will not even respond to their requests for contact.

Control the Timing of Your Divorce Case

Filing the complaint for divorce means that you know the timing of the case, giving you the chance to secure knowledgeable and effective legal representation as well as to collect all of the documentation you will need to pursue your case. You and your Las Vegas divorce attorney can prepare to track down bank and brokerage account statements, real estate records, vehicle registrations, insurance policies, wills and trusts, etc. so that you can hit the ground running in your divorce proceeding.

Get in the First Word

By filing the complaint for divorce, and thus being the plaintiff, you get to set the stage for the proceedings. The family court will read your complaint for divorce first, meaning you can highlight your side of the case before your spouse gets to make their defensive arguments. At court hearings and at trial, you will likewise get to present your case first, letting you frame the evidence, issues, and arguments in the manner most favorable to you. As a side note, only a small percentage of divorce cases go to trial. However, being the plaintiff at trial if it does occur is a distinct advantage.

Possibly Choosing the Venue

When you file a divorce case, you may have the opportunity to file in a jurisdiction that is to your advantage. Divorce filings are valid in a jurisdiction in which one of the spouses resides, assuming residency requirements are met. If you live in the same city, the venue is not much of a question. However, if you and your spouse live in different states, or if you spend equal time in different homes in different counties within the same state, then there may be more than one venue option available to you. You may want to take advantage of filing for divorce in your home county, rather than where your spouse lives, to avoid having to travel for court appearances. Discuss the advantages and disadvantages with your divorce attorney, and file in the jurisdiction that is most favorable to you.

Prevent Your Spouse from Hiding Assets

Wealthy spouses who sense a divorce filing may try to hide assets in offshore accounts and other hard-to-reach locations. Hiding assets in a divorce is not only dishonest; it is always looked upon negatively by the family courts. Regardless, many spouses try to do so in order to gain an unfair financial advantage or get one over on their soon-to-be ex. By filing first, you can take advantage of the element of surprise, preventing your spouse from undergoing any shady dealings with property sales or asset transfers.

Get Relief Sooner

If you are in need of immediate relief because of your spouse’s actions, filing the complaint for divorce gives you the chance to get relief as soon as possible. If your spouse is preventing you from access to marital assets, or if they pose a domestic violence risk, you can ask for a court order to protect yourself and your family. If you are separated from your spouse and you need spousal or child support, you can request temporary support while the divorce is pending. The sooner you file, the sooner you can get a court order for what you need.

Trusted Legal Representation for Your Las Vegas Divorce

Talk to one of our divorce law experts to discuss the best approach for your divorce matter. Our divorce lawyers will bring experience and dedication to bear in guiding you through all aspects of your divorce, from temporary spousal support, alimony and property division, to child custody issues. They are well-versed in even the most complex and sensitive divorce issues. Our divorce attorneys in Las Vegas will explain to you what we offer our clients. Then you can decide if a consultation is right for you. Call our office at 702-460-8005 to personally speak with one of them.

COVID-19 and Your Las Vegas Divorce Case

Posted on August 10, 2020 | by The Abrams Law Firm LLC

If you are in the middle of a divorce case, or if you were gearing up to file for divorce, the COVID-19 coronavirus pandemic has likely affected your plans. In Las Vegas, divorce cases are still proceeding through the family courts, but there are important changes to take note of. Read on to learn about some of the principal ways in which COVID-19 is likely to affect your divorce proceeding.

Some Court Delays and Remote Participation

One of the primary effects of the pandemic has been the closure of businesses in order to fight the spread. Except for trials, Clark County family courts are generally closed for in-person proceedings, and some hearings and deadlines (motion filing, discovery, etc.) have extensions. And even many divorce trials have been pushed back on the court’s calendar. The family courts are using remote access through BlueJeans videoconferencing software for nonessential matters such as standard court hearings. The family court judge in your divorce matter has likely issued orders concerning the scheduling of future events in your case. So your Las Vegas divorce attorney will communicate to you on how your case will proceed. Our office will also assist you with BlueJeans so you can participate in all court hearings as necessary.

Outside of the courtroom, you can still communicate with your divorce attorney remotely via video conferencing tools such as Zoom or FaceTime. Likewise, mediation, arbitration, and settlement negotiations can also be held remotely. Discuss the matter with your divorce lawyer to explore how best to keep your case moving in light of the changing environment.

Changed Economics

We discuss the economics of divorce during the COVID-19 pandemic more fully in another post. Briefly, it is important to take stock of how the pandemic has affected the economic calculations involved in your divorce. If your divorce involves the distribution of assets such as business ownership, stocks, and real estate, the pandemic might affect your property’s value. Always discuss with your attorney whether an updated valuation is appropriate in light of the current circumstances.

Additionally, if you or your future ex-spouse has had a significant change in income or expenses due to the pandemic, such as job loss or furlough, business closures, medical expenses, this change may affect calculations of child support and alimony, both temporary and permanent. Income changes might also affect your division of property. For example, one party may have a different view on whether they can afford to buy out the house or keep up with a mortgage and property taxes.

Child Custody and Visitation

The pandemic has everyone on edge, rightfully so, about the spread of COVID-19. If one spouse has symptoms of the virus, or if they work in a high-risk job such as healthcare, the parties may choose to put into place a temporary child custody and visitation arrangement that best protects the health of the children. The arrangement could have an expiration date, with a permanent plan to take over once the danger has lessened. It’s important to get any form of child custody arrangement, even temporary ones, in writing and family court sanctioned.

Custody and visitation arrangements must also take into account travel restrictions. If you and your soon-to-be ex-spouse live far apart or in different states, a custody plan should limit the number of necessary trips. Even parents living close by may wish to limit the number of exchanges to avoid exposure. For example, instead of custody changing every weekend or every other week, the children could stay for two weeks or a month at a time in each location, especially if schools will be operating remotely. If you have any concerns, discuss your options with your divorce attorney and your co-parent.

Get Expert Counsel for Your Las Vegas Divorce

Our seasoned divorce lawyers in Las Vegas are ready to help you navigate all aspects of your divorce case, from complex asset evaluation and property division to alimony and child custody issues. They will speak with you directly regarding a consultation. Call our office at 702-222-4021 to speak with one of them and see if what we offer is right for you.

Legal Separation in Nevada

Posted on July 23, 2020 | by The Abrams Law Firm LLC

There are two primary reasons why some spouses initially choose legal separation over divorce. First, divorce is typically not the first option for you and your spouse to deal with your conflicting issues. Marital counseling, couples and individual therapy, and other reconciliation efforts while living apart may help you resolve your disputes without ending in divorce. Some spouses find that a trial separation can help them either resolve their differences or affirm their need for a divorce. Second, there may be religious considerations because some religions forbid divorce. In these cases, a legal separation may be the only option available to settle differences.

Legal separation in Nevada sets the legal boundaries of a marital separation without divorcing the spouses. In these cases the spouses live separately while trying to reconcile. The spouses also ask the Clark County family courts to confirm or decide on a separate maintenance agreement. In either event, a court order then governs the agreement.

What is Legal Separation?

In Nevada, legal separation is formally referred to as “separate maintenance.” While parties can informally separate and live apart while staying married, they shouldn’t because they will not have the power of a legal document to enforce agreements concerning marital finances, child custody, child support, alimony, and other issues. It’s not unusual for what is agreeable at first to change over time. One spouse may also not keep up their end of the agreement. Most importantly, there is no way to enforce a separation agreement of the spouses if it’s not in the form of a court order.

Separate maintenance is a legal alternative to divorce, offering many of the same legal benefits as divorce without actually dissolving the marriage. Separate maintenance specifically refers to a legal proceeding that is similar to divorce, but it does not dissolve the marriage. Spouses who seek to separate can go through a court process similar to divorce and receive a court order establishing rights and responsibilities of both parties concerning:

Marital finances
Distribution of property, including real estate and personal property
Alimony (spousal support)
Child custody and visitation
Child support

Nevada is a no-fault state for both divorce and separate maintenance. The legal justifications for separate maintenance are essentially the same as divorce – one spouse need only allege incompatibility of the spouses. Generally, a Las Vegas family court judge will only grant legal separation when both spouses desire that option. If one spouse files for legal separation and the other spouse files for divorce, the matter will likely be decided as a divorce case.

Benefits of Separation

Spouses who are interested in separation but are not yet ready to divorce can benefit from the legal securities offered by a court ordered separation agreement while still having some of the benefits of marriage. For example, separated couples can continue to:

Share health insurance and other benefits with each other
File taxes jointly
Benefit from survivor benefits under social security, workers’ comp, personal injury, or military benefits

In addition to retaining the legal benefits of remaining married, separated parties can avoid running afoul of religious taboos concerning divorce. Separation also allows parties the chance to reconcile rather than definitively deciding that divorce is necessary. Our divorce attorneys in Las Vegas offer consultations for those considering legal separation or divorce. It’s important to thoroughly understand the pros and cons and the details of each option.

Biggest Pitfalls of Legal Separation

The two biggest issues for those considering legal separation are the stress of the process and the legal costs for both spouses. A properly drafted separate maintenance agreement requires the same detail of terms and conditions as a negotiated divorce settlement. Knowledgeable divorce attorneys understand that the process of getting both spouses to agree is not always easy on the participants. The level of stress is a real consideration and going through the stressful process a second time at a later date is not advisable.

Divorce and legal separation court proceedings are two separate events. Even if the separate maintenance agreement is similar to a negotiated divorce settlement agreement, you must still go through the divorce process. In other words, the family court will not “automatically convert” a legal maintenance agreement into a decree of divorce. Therefore you will be paying more legal fees if you end up doing both. For this reason, you should carefully consider whether the possibility of reconciliation is real.

Dedicated Las Vegas Divorce Attorneys

Our seasoned divorce attorneys in Las Vegas are ready to help you with either your divorce or separate maintenance matter including complex asset evaluation, division of marital assets and debts, property division, alimony, spousal support, and child custody issues. Call our office at 702-460-8005 to personally speak with one of them. They will explain to you what we offer our clients. Then you can decide if a consultation is right for you.

Nevada Child Support Laws

Posted on July 19, 2020 | by The Abrams Law Firm LLC

Nevada child support laws require that parents provide for their children. For divorcing couples, this means that both parents should contribute in some form. The support can take the form of financial, housing, educational, medical, and child care, to name just a few.

The financial aspect of child support is based on the physical custody agreement. As with all divorce aspects involving minor children, the financial support agreement requires court approval. Child support payments terminate when a child reaches age 18, or 19 if the child is still attending high school.

Nevada law sets guidelines on how family courts should evaluate and determine financial child support amounts. Any divorce decree concerning minor children must comport with the Nevada statutes, even if the parties come to a different agreement in a divorce settlement. Effective February 2020, the guidelines have changed, potentially allowing for higher financial support obligations than under the previous laws.

The New Guidelines

Under the previous child support guidelines in Nevada, child support payments were capped at a presumptive maximum of $1,165, per child per month, regardless of the paying party’s income. This was different from most other states which have no presumptive maximum amount.

For example, if a person makes $10 million a year in California, the guidelines there indicate a support obligation of over $50,000 per month, or over $600,000 per year. In Nevada, the previous guidelines would have capped at the payor’s obligation to $1,165 per month or $13,980 per year. So previously the children of high income parents in Nevada were afforded substantially less financial support than in most other states. Caring divorce attorneys in Las Vegas welcome the new guidelines and the elimination of the financial support presumptive maximum caps.

Now, the $1,165 cap has been removed and replaced with a calculation that changes the child support obligation of the payor based on their gross monthly income. For one child, the guidelines provide for child support in the amount of 16 percent of the payor’s first $6,000 of their gross monthly income, eight percent of the next $4,000, and four percent of any income over $10,000. The percentages change if there is more than one child.

For example, a person who makes $15,000 a month which is $180,000 annually, could now pay up to $1,480 for one child, rather than the previous limit of $1,165. Here’s how the calculation in this example works:

16% of $6,000: $960 and;
8% of the next $4,000: $320 and;
4% of the next $5,000: $200
Total: $1,480

The rules also allow a judge to impute income to a payor if they are unemployed or underemployed without good cause, i.e., if they should have a job at a certain income level, but they choose not to. Our divorce attorneys in Las Vegas also find that under-reporting income is easiest when the payor owns their own business.

Deviation from the Guidelines

The laws also recognize that the guidelines range will not be right in every situation. A person may be less able to pay, despite their gross income, or a family’s need may require additional amounts. Las Vegas divorce attorneys can have the court adjust the support obligation based on the needs of the family and the economic circumstances of the parties. This includes considerations such as special education needs, the payor’s ability to pay, the relative income of both households, transportation costs for visitation, and a host of other issues.

Modifications by a Change in Circumstances

The new child support rules apply to child support cases agreed to or by judge’s decision after February 1, 2020. The current rules do not modify existing child support obligations prior to that date. Regardless of the inception date, payment modifications require a “change in circumstances” that affects the financial situation of either the payor or payee. Typically this means an income change of one party that is +/- 20% from the original child support order. Most importantly, the new rules alone are not a consideration for change in circumstances.

Trusted Las Vegas Divorce Attorneys

Our seasoned divorce attorneys in Las Vegas are ready to help you navigate all aspects of your pending divorce, from child custody issues and alimony to complex asset evaluation and property division. They will speak with you directly regarding a consultation. Call our office at 702-222-4021 to speak with one of them and see if what we offer is right for you.

Las Vegas Contested Divorces

Posted on May 31, 2020 | by The Abrams Law Firm LLC

Divorce is usually a unique experience in one’s life. Therefore, few participants understand the intricacies in contested divorce proceedings. But it’s important to acquire the right knowledge in order to get through the process with as little stress as possible. This article discusses the key factors in Las Vegas contested divorces.

First, it’s critical to get the right divorce attorney in Las Vegas to represent you. While the following cannot replace the knowledge and experience of a qualified attorney, it will provide you with a base of information to build upon.

Each Divorce Case is Unique

Each divorce case involves two unique spouses and a different set of case facts. For this reason, it’s important to avoid the temptation to rely too heavily on advice from friends and relatives who have gone through a divorce. Their case circumstances might seem similar but can never be exactly the same as yours. This article addresses just one possible divorce case type: contested divorce matters involving substantial assets and minor children.

Contested Divorce Cases Take Time

One of the oldest strategies in a contested divorce is for one spouse to wear the other down by refusing to negotiate in good faith and/or constantly causing delays in the divorce proceedings. Their goal is to get you so tired of the divorce process that you accept an unfair settlement just to get the case over with. Divorce lawyers call this a “settlement by attrition”.

You need to prepare for the possibility that your spouse may employ this strategy. Do not let their tactics affect your decision on whether to accept a settlement proposal or not. Your divorce attorney will advise you on the pros and cons of any settlement proposal. It’s best to listen carefully to their counsel with a questioning ear. You should know why they think certain settlement proposal aspects are to your benefit and why they think others are not.

Divorce Case Legal Fees and Costs

No one benefits from a long drawn-out contested divorce because the total case costs deplete the assets that you are entitled to. Contested divorces always require more time and legal fees than uncontested divorces. The costs run even higher if both spouses can’t agree on a negotiated settlement. In these instances, a trial before a judge is necessary to achieve resolution. Properly preparing for, and going through a trial, is a time consuming and costly proposition.

Focusing on opportunities rather than past injustices reduces divorce costs. Avoid blaming your spouse and concentrate on your future. It’s important that you have confidence in your divorce lawyer. They have the experience to know whether it’s better to settle or go to trial.

Equitable Distribution Does Not Mean Equal Share

Nevada is a community property state. In simple terms, this means that all assets and debts during the marriage are the equal property of the community. And as such, subject to equitable distribution during divorce. However, there are numerous factors, such as a valid premarital agreement or assets and debts prior to marriage, which can affect community property.

Most importantly, many believe that equitable distribution means that both spouses will get an equal share of the marital property. But this is not true. Equitable distribution means that the distribution of the property will be fair. Fair is a relative term. What seems fair to one spouse may not seem fair to the other. Navigating this maze is best done with the strong counsel of your divorce attorney. They know from their experience what the courts are likely to decide if a settlement cannot be reached.

Parental Custodial Rights

Some believe that the court system favors the mother when deciding physical custody of the children. While this was the case many years ago, it is no longer a standard. In fact, barring extenuating circumstances, the family courts prefer both parents to be equally active in their children’s lives. The overriding factor is what’s in the best interest of the children.

Challenging the de facto standard of joint physical custody where both parents share equal time with their minor children is tricky business. While you may sincerely believe that you are the better parent, proving it to the level of getting sole physical custody is a different matter. Therefore, you need the help of a skilled divorce attorney to increase the chances that the court makes a judgment in your favor.

Las Vegas Contested Divorce Experts

It’s always best to consult with several divorce attorneys in Las Vegas before you decide on the best one to represent you. Our Las Vegas divorce attorneys will speak with you directly regarding a consultation. Call our office at 702-222-4021 to speak with one of them and see if what we offer is right for you.

Divorce and Business Valuators

Posted on May 18, 2020 | by The Abrams Law Firm LLC

Most business owners invest their savings and countless hours to make their business a success. And with almost half of new businesses failing within five years, there certainly are no guarantees. So when one or both divorcing spouses own a business, the process becomes complicated. Every business owner should know about divorce and business valuators.

Establishing the value of a business is a critical element for marital property division in a divorce. Typically only one spouse will own the business after the divorce concludes. Therefore, determining the value of the business in a divorce is an important factor because the other spouse must be compensated for their share of the marital asset.

Business Valuators

A business valuator is an independent professional that assess the value of a business. The business valuator compiles and analyzes the business’ financial and operating statements. These can include bank statements, inventory reports, tax returns, financial statements, and other documents. They may also conduct onsite interviews with senior staff members and key executives. Current market trends, the competitive environment, and earnings history are also valuation considerations.

Choosing the Proper Valuator

Valuing a business, whether for a divorce or not, is part art and part science. The professional opinions of reputable valuators may differ based on a variety of variables. So it’s preferable that the divorce attorneys for both spouses agree upon the selection of the business valuator. However, this is not always possible. But without such an agreement, one spouse may seek the assessment of a second business valuator. This doubles the valuator expense in divorce proceedings.

Business Valuator Accreditations

Business valuators have specific requirements in order to achieve licensing. They must possess one or more advanced degrees and/or certifications. Each has their own set of requirements that valuators must adhere to. Advanced examinations, years of dedicated experience, and annual education commitments are necessary to achieve licensing and to keep an active status. The following is a partial list:

Certified Public Accountant (CPA)
Master in Business Administration (MBA)
Accredited Senior Appraiser (ASA) from the American Society of Appraisers (ASA)
Certified Valuation Analyst (CVA) from the National Association of Valuation Analysts (NACVA)
Certified Business Appraiser (CBA) from the Institute of Business Appraisers (IBA)
Accredited in Business Valuation (ABV) from the American Institute of CPAs (AICPA)

There are approximately 5,000 business valuators in the United States. However, not all accredited business valuators are certified as experts by the Clark County Family Courts. In order for their reports to be entered as evidence or for them to testify in divorce cases, business valuators need expert certification from the court.

Business valuators focus on the value of the business using several accounting methods. Understanding the limits of what a business valuator does is essential. It’s equally important to know what they don’t do. Business valuators prepare their reports using existing financial and market related data. Sometimes one spouse attempts to mask the value during divorce proceedings. But unless the business’ financials are obviously inaccurate, the valuator will not dispute the information provided to them. That’s the job of forensic accountants.

Intangible and Real Estate Assets

The business valuator also looks at intangible assets such as intellectual property rights, celebrity name value, patents, and trademarks – to name a few. Technology and entertainment businesses in particular have these types of intangible assets. Real estate properties also affect valuation. Appraisals are necessary to determine the current market value of commercial properties.

Professional Practice Valuations

Professional practices owned and operated by lawyers, dentists, real estate brokers, chiropractors, doctors, and other professionals are valued differently. These businesses require business valuators with specific professional practice valuation experience. Professional practices typically do not possess substantial physical assets, with the exception of real estate holdings or owned equipment. Therefore, a sizeable portion of the value is goodwill. In one sense, goodwill is based on the past performance of the business and the likelihood that the business will continue to generate income. Goodwill can also be the reputation of the business in the community it serves.

The goodwill value of a professional practice is often directly associated with the owner/ practitioner. This is particularly true when it comes to businesses run by a solo practitioner. In these practices, the owner’s labor is required in order for the business to generate income. The value of a professional practice, including goodwill, is like any other asset during the divorce process and thus part of the division of marital assets between you and your spouse.

Expert Divorce Attorneys

Our firm only retains accredited and court certified business valuation experts on your behalf. Our Las Vegas divorce attorneys possess the experience necessary to use the business valuation report in order to protect your interests. One of them will speak to you directly and assist you in setting up a consultation. Call our office at 702-222-4021 to see if what we offer is right for you.

Las Vegas Alimony Awards

Posted on April 27, 2020 | by The Abrams Law Firm LLC

The financial dealings in a divorce case often include a consideration of whether alimony is appropriate. Long term marriages generally have more positive alimony related factors than short term marriages. Las Vegas alimony awards are a form of financial support provided to one former spouse by the other. Either divorcing spouse can make a request for alimony. Gender is not a factor in determining whether alimony is suitable; both husbands and wives can pay or receive alimony.

Alimony awards may be appropriate, but are not mandatory, in Las Vegas divorce cases. There are no specific statutes in Nevada law which defines exact alimony amounts or if alimony is even suitable in a specific divorce case. Instead, alimony awards are based on the abstract concept of what is “just and equitable”. This imprecise definition leaves a great deal of latitude when it comes to determining alimony amounts and payment terms.

Alimony Payments

Alimony awards often entail regular payments for a specified length of time. However, in some cases, a lump sum payment covers the alimony issue. In rare cases, an ex-spouse may receive life-long alimony payments. These cases are typically based on “long-term” marriages. But just like the other alimony factors, Nevada law does not specify the number of years for a marriage to be long-term.

Alimony awards can be either non-modifiable or modifiable. When an alimony award is modifiable, a “change in circumstances” can cause the amounts or terms to be modified. A variety of conditions can trigger a change in circumstance. The most common examples are: The former spouse receiving the payments remarries, or; the former spouse making the payments becomes unemployed or disabled.

Tax Implications

Due to new IRS tax regulations, the former spouse receiving the alimony payments does not claim the payments as taxable income. The former spouse making the payments also does not report the payments as tax deductible. As with all tax related matters, you should consult with a qualified tax professional to understand your specific tax status.

Prenuptial Agreements

Prenuptial agreements that expressly address alimony can affect alimony awards and payment amounts. The validity of the prenuptial agreement is critical. Prenuptial agreements must meet certain criteria to be valid and enforceable. In cases where a prenuptial agreement is invalid, the resolution of alimony issues, as well as community property items, become negotiable.

The Tonopah Formula

Nevada law does not include any specific alimony statutes. However, some family court judges use the Tonopah Formula when considering alimony issues. The Tonopah Formula considers a number of factors including, but not limited to:

The relative financial condition of each party after their divorce matter concludes.
The length of the marriage.
The spouses’ careers prior to marriage.
The relative ages, health, formal education, and earning incomes of the divorcing spouses.
Child support payment amounts, if any.

The amount and payment terms of alimony awards are determined by:

Successful negotiations between your divorce attorney and the attorney representing your spouse, or;
The judge will consider the evidence and render a decision regarding the alimony issue and payment terms of the award, if any.

Alimony Professionals for You

Issues related to alimony awards are different for each divorce case. There is no single mathematical formula for calculating alimony awards. Our Las Vegas alimony attorneys have extensive experience with each of the Clark County Family Court judges. Therefore, they know if, and what amounts of alimony awards, can be reasonably expected based on the specific circumstances in your case. They will speak with you directly regarding a consultation. Call our office at 702-222-4021 to speak with one of them and see if what we offer is right for you.

What Are Hidden Assets in Divorce?

Posted on February 14, 2020 | by The Abrams Law Firm LLC

Divorcing spouses in Nevada have to disclose their financial condition to the court. This includes a full listing of all their assets. This procedure is meant to ensure that all marital assets are disclosed and therefore subject to division during their divorce case. However, there are instances where spouses try to hide assets through unfair means. Our divorce attorneys in Las Vegas provide valuable information about marital finances, including what we do to uncover the hidden assets for your benefit.

What Are Hidden Assets?

Hidden assets are valuable possessions and assets that one party intentionally conceals from another. Spouses do this to attempt to cheat their soon-to-be-ex out of a share of assets that are rightfully theirs. The best divorce attorneys well aware of this tactic. They always advise to investigate marital assets and finances thoroughly. There are times where hidden assets are uncovered and times where they are not. In any event, a thorough investigation into all marital finances puts your mind at ease.

Common examples of hidden assets include:

Unreported retirement accounts or under-reported tax returns
Overseas bank accounts and real estate properties
Undisclosed business assets purchased with marital funds
Hidden luxury items and valuable possessions
Secret funds transferred or withdrawn from a business to a shell company

The above list is not all inclusive. There are numerous other ways a dishonest spouse can conceal assets. Your best bet is to retain a high net worth divorce attorney familiar with such cases. They know how to thoroughly vet all marital finances and uncover hidden assets during divorce matters. Our experienced attorneys also add a clause in the decree of divorce that entitles you to receive a share of marital assets you might discover after your divorce case concludes.

Is Your Spouse Hiding Assets?

If you suspect hidden assets, retracing your marital and spouse’s financial activities is a practical way to start. If your inquiries uncover items that cause you concern, our attorneys will retain a forensic accountant to conduct a formal investigation. However, the whole process is highly complex and time-consuming. That’s why we advise our divorce clients to look for a probable cause for their suspicion. This is to minimize the chances that the forensic accountant isn’t searching for something that doesn’t exist.

Here are a few warning signs you should consider:

Has your spouse ever lied about their salary and/or other income?
Do you have access to all bank account details and passwords, including those for a spousal owned business?
Did your spouse ever withdraw a significant amount of money to pay off an alleged debt?
Have you noticed unusual transactions from your joint accounts?
Do they hide information on financial investments from you?
Are they frequently transferring funds to offshore bank accounts or other vehicles without your knowledge?
Do they make contradictory statements about financial matters?
Have you checked your safe deposit box to make sure that everything is there?

Our Divorce Attorneys in Las Vegas Can Help You

Recovering hidden assets is not a simple process. Our attorneys have a successful track record in locating hidden marital assets. As a result, your spouse’s misconduct doesn’t deprive you of what’s rightfully yours. Our Las Vegas divorce attorneys will speak with you directly regarding a consultation. Call our office at 702-222-4021 to see if what we offer is right for you.

Las Vegas Divorce Guide for Business Owners

Posted on November 16, 2019 | by The Abrams Law Firm LLC | Leave a Comment

Getting a divorce is a difficult situation for both spouses. It’s more so if the divorce involves a small business. Business owners going through divorce inherently have a complex divorce matter. Therefore, we’ve created this Las Vegas Divorce Guide for Business Owners. Your business may be the largest marital asset. One or both spouses likely worked long and hard to build it. Now it’s time for a new phase and the challenges that go with it. This guide is not a substitute for, nor is it meant to be, direct legal advice. Rather our Las Vegas divorce attorneys offer the guide as an overview of the important issues that any business owner needs to consider during divorce proceedings.

In this article we discuss:

Business Ownership
Prenuptial and Postnuptial Agreements
Buy/Sell Agreements
Outside Investors
Commingling Business and Community Funds
Establishing the Business Value
Business Valuators
Business Goodwill
Professional Practice Businesses
High Growth Businesses
Who Gets the Business?
Spousal Buyouts
Maintaining Profits During Divorce
Your Role in Divorce Proceedings

Business Ownership

Often times both spouses have, or claim to have, some form of business ownership. In divorce cases, there are several factors that can affect business ownership. These include prenuptial agreements, postnuptial agreements, outside investors, buy/sell agreements, and commingling of community and business funds, to name a few.

One or both spouses may own the business in its entirety. It’s also possible that outside investors have an ownership stake. Nevada community property laws are a significant part of marital business ownership. These statutes are complicated and there are a lot of “gray areas.” So only divorce attorneys with considerable experience in the finer points of financially sophisticated divorce cases should be representing you. Buyer beware. An inexpensive divorce attorney may seem like a business bargain at first. That is until you realize that you’re at a serious disadvantage and have to change attorneys in the middle of your case.

Prenuptial and Postnuptial Agreements

A prenuptial or postnuptial agreement can affect business ownership rights. These agreements must be valid in order to be enforceable. Again, the validity and therefore enforceability of these agreements is complicated. Just because the agreement was signed doesn’t mean it was drafted and/or executed properly. These agreements are “thrown-out” of divorce cases all the time. Most importantly, if an agreement is ruled unenforceable by the family courts, Nevada community property statutes prevail.

Buy/Sell Agreements

A Buy/Sell agreement is similar in nature to other marital agreements, however Buy/Sell agreements typically only govern the business specifically. A Buy/Sell agreement is often used when there are partners and/or other investors in the business. These agreements should always define the terms and conditions if the spouses divorce. Once again, any agreement can be contested in court. If the Buy/Sell agreement is deemed to be unenforceable, the terms of the agreement can be disqualified and Nevada community property statutes apply.

Outside Investors

Funds from outside investors also affect the business ownership percentages of the divorcing spouses. These investors are often family members of one divorcing spouse, or friends of one or both spouses. This situation adds an additional financial, and sometimes emotional, dynamic to the divorce matter. Divorcing spouses make outside investors wary because the outcome is unknown. Investors dislike uncertainty.

Commingling Business and Community Funds

Barring an enforceable marital agreement, funds earned prior to marriage can be viewed differently than funds earned after the date of marriage. Often the funds used to start or build the business were a combination of both. Determining the origination of funds is also a complicated process. Our attorneys are familiar with these situations. They often employ a forensic accountant to determine the premarital and post marital sources of business funding.

Establishing the Business’ Value

Most business owners reading this guide own a private company. So the stock of the business isn’t publicly traded and therefore the business’ value needs to be established. In these cases, hiring a business valuator to produce a business valuation report is necessary. The report will state, among other things, an opinion of business’ value according to several methods. These can include: cash, book, investment, fair market, and future earnings values. Additionally, the goodwill value of a professional practice can be a complex business value issue.

Business Valuators

The professionals that investigate the business and present their value findings in a report are called business valuators. It’s important that your attorney is well versed in both the business valuation process as well as the individual business valuator. There are various levels and some valuators are more suited to certain industries and/or business models than others.

Business valuation reports come in numerous formats. Each report is a custom project that details the value of a unique business entity in several ways. In addition to opinions of value, the report typically includes general geographic / demographic data about the business’ locale. It also includes specific information about industry health and trends, and numerous financial and other details regarding the business.

Business Goodwill

The business valuation process is not an exact science. This is particularly true when valuing the goodwill of a business. Goodwill, in a very general sense, is the value the business carries as an on-going concern. In addition to goodwill, knowledgeable divorce attorneys are aware that business valuations are also complex when dealing with intangible assets. Examples of intangible assets are: patents, copyrights, trademarks, brand recognition, customer lists, special licenses, and trade secrets.

Professional Practice Businesses

The value attached to a professional practice business also comes with its own set of complexities. Typically a business that requires a special license, in addition to the standard business license, is considered a professional practice. These include medical offices, law firms, architectural companies, CPA firms, real estate brokerages, etc. Absent real estate holdings or owned equipment, the value of a professional practice is often heavily dependent on the intangible asset of goodwill.

High Growth Businesses

Future earnings are typically a significant factor when determining the value of a high growth business. Businesses that are experiencing rapid income growth are difficult to value comparatively. If you and/or your spouse have a business that is experiencing a substantial growth in income, the previous and current earnings may be irrelevant to future earnings. Valuing a business that is experiencing a significant income upswing requires careful examination of the internal and external factors causing the growth.

Who Gets the Business?

Divorcing spouses must decide whether to sell the business to a third-party or to have one spouse buy out the other. If one spouse wants to keep the business and the other does not, or if only one spouse holds a special license needed to own and operate the business, this decision is easy. The only aspect left is establishing a value and the terms of the spousal buyout.

But what happens when both spouses would like to keep the business. This can cause an impasse in the divorce settlement negotiations. One way to resolve this is to hold an auction for the buyout amount between both spouses. At some point one spouse will be willing to pay more than the other for the business.

Spousal Buyouts

There are no set rules when it comes to structuring a divorce settlement including the buyout of a business. It’s whatever both spouses agree to. One of the most common approaches is to work out a trade-off of one asset for another. For example, let’s say that the business has an agreed upon value of $900K and you and your spouse are equal partners. You want to keep the business and your spouse agrees to a buyout amount of $450K. Here’s the problem – you don’t have the $450K in cash.

But you do have 50% of the equity in the house and your share is worth $400K. Trading off your share of equity in the house lowers your cash requirements down to $50K. You can continue these trade-offs with other marital assets as long as your spouse agrees to the terms. If you still have a liability remaining after these asset trades, a term note with a nominal interest rate often solves this problem.

A note of caution: You should make sure that the payment terms will not negatively impact the business’s cash flow. The same goes for your desired standard of living after your divorce concludes. Making smaller payments over a longer time period is always a better choice.

Maintaining Profits During Divorce

Many business owners facing divorce have valid concerns that the business may suffer during the divorce proceedings. Even the most agreeable divorce cases can take the focus off of growing and/or running the business. If the divorce is less than amicable, as many are, the business operations can take a serious hit until the divorce matter concludes.

So what do smart business owners do in these situations? They remain smart. They throttle down their emotions in order to minimize the impact on the business. It’s usually not realistic to think that there will be a completely smooth transition. But making a concerted effort to keep your cool will pay big dividends. Smart business owners also seek the advice of experienced legal counsel. Your rights and business are best protected by hiring a divorce attorney who has handled many similar divorce cases before.

Your Role as a Business Owner in Divorce Proceedings

Business owners in divorce proceedings should prepare themselves for a totally different role than the one they occupy when running their business. This cannot be understated. After years of running your own business you may be accustomed to people doing as you tell them. In your divorce case…not so much. All the inherent power of authority and control that you enjoy as a business owner have no bearing in divorce matters. The laws of the State of Nevada and the family courts are the “business owners” in divorce proceedings. What they say goes. Family court judges take a dim view of anyone who thinks and acts otherwise. Experienced attorneys are skilled at handling these situations. They understand that preparing you for the divorce process and providing guidance throughout your case is critical.

We hope you’ve found this information from our Las Vegas divorce attorneys valuable. They will also be glad to speak with you directly regarding a consultation. Call our office at 702-222-4021 to speak with one of them and see if what we offer is right for you.

Protect Your Privacy in Divorce

Posted on November 16, 2019 | by The Abrams Law Firm LLC | Leave a Comment

Las Vegas divorce proceedings are a rare event to most people. Therefore, the participants don’t realize that all divorce information is a matter of public record. That is unless your divorce attorney knows how to protect your privacy in divorce cases.

Public record means that anyone can attend your divorce court hearings. They can also see a summary of divorce case filings online. What’s even worse, they may get copies of your divorce case file by just by asking the court clerk for it. This file has all your personal divorce information. This includes the names of your children, child custody plans, and personal finances. If you or your spouse owns a business, confidential business information may also be in the file.

Divorce Privacy – It’s Not Just for Celebrities

Sealing a divorce case is almost always done by celebrities. But you don’t have to be a celebrity to want to keep your personal information private. Therefore, everyone who wants to deserves to keep their private life away from prying eyes.

How to Protect Your Privacy in Divorce

Our divorce lawyers know how important privacy can be to some people. One way we can protect you is to seal the divorce case from public view. The process of sealing a divorce case requires the proper court filings and court approval. Once the family court judge signs the Order to Seal your privacy is protected. Only the divorce attorneys of record for both spouses can see the court filings. No one else has access to the file. That means that family members, friends, neighbors, co-workers, and employers can never see your private dealings.

Ask to Seal Your Divorce Case

Not everyone going through a divorce in Las Vegas cares if their case is private. So it’s always best to ask your attorney to seal your case if it’s important to you. Please contact our office at 702-222-4021 if you’d like to discuss protecting your privacy during divorce proceedings.

How Do You Separate Social Media After Divorce?

Posted on November 15, 2019 | by The Abrams Law Firm LLC | Leave a Comment

Social media is an important part of most people’s lives. The way we connect with our friends and families and share memories are all online. Sharing social media accounts and passwords with your spouse is natural. However, separating your social media lives is part of the divorce process. Many divorcing spouses have years of photos and posts online. While social media and other digital platforms provide a convenient way to share, the one aspect that it does not do well is delete.

Make Sure Your Divorce Attorney Agrees

Joint social media accounts may be community property. There are too many factors to go into detail in this article but our divorce attorneys know it’s important to consider how these accounts are handled during and after your divorce. You should not make any drastic moves without consulting with your divorce attorney first.

Limited Social Media Deletes

Once information is available online, it’s hard to remove all of it. And the longer the data has been online, the more likely it is to be on other platforms. In many instances, it’s wide-spread across websites that you aren’t even aware of.

The first step in separating your social media is to accept that you probably won’t be able to remove everything. So begin by removing what you can. You can also contact the little known websites that somehow have your information and ask them to remove it. However, the people who run these websites have no interest in deleting anything. Additionally, many are located internationally. This limits your legal process options. It’s also likely financially unwise. So, do the best you can but don’t obsess over it.

Protecting Your Privacy

Separating social media usually involves blocking access to accounts, blocking access to data, and separating accounts completely. These steps can help:

Change passwords to private accounts
Delete shared social media accounts and create new private ones
Backup, reformat, and re-install your electronic devices

When your online accounts go from “we” to “me”, you’ll want to start limiting access by changing the password. From health insurance to email to Facebook and other social media accounts, privacy becomes paramount during and after a divorce. It’s not a matter of being selfish or inconsiderate. Your life after marriage is a fresh start and you have every right to decide who can see it and who can’t.

You also want to be sure that there are no hidden files or “back doors” on the electronic devices you retain during and after your divorce. The best way to do this is to backup, reformat, and then reinstall the apps, programs, and verified clean data on each device. This can be complicated. So hiring a technology expert that has experience in these processes is a good idea. You can then have comfort in knowing that your new private social media life is just that – private.

How Do I Protect My Rights and Assets During Divorce?

Posted on November 15, 2019 | by The Abrams Law Firm LLC | Leave a Comment

Your divorce attorney protects your rights and assets during divorce. If you have chosen a skilled and dedicated divorce lawyer, they will protect you. Listening to their advice and the reasons behind their strategy is paramount to achieving the best results. The best Las Vegas divorce attorneys know how to limit emotions in a divorce case. Going through a divorce is a unique experience for you. Attorneys dedicated to the practice of divorce law do it day-in and day-out. They have honed their skills over hundreds of divorce matters and likely know the tendencies of the opposing counsel and the family court judge assigned to your case. There is no substitute for their legal expertise and wealth of experience.

The top divorce lawyers always have their client’s best interest in mind. They do not have the emotional attachments you have. So, they know that it’s important to “pick your battles” wisely. They also know that, as time passes and things between you and your ex hopefully cool down, you’ll look back and appreciate the wisdom they used even more so.

Disagreeing with Your Divorce Attorney

If you disagree with how your divorce attorney is protecting your rights and assets – speak up. If there was ever a situation where open communication is important, this is it. No Las Vegas divorce attorney is a mind reader. While there are divorce lawyers whose egos exceed their expertise, the top Las Vegas divorce attorneys welcome input from their divorce clients. They want your active involvement. This is one way that you can protect yourself.

Regardless, you should always have the final decision in your divorce case. If you and your divorce attorney cannot agree – it’s time to get a new attorney. The same goes for divorce attorneys and their staff that do not promptly communicate with you. This is inexcusable, though sadly common.

Protecting Your Rights and Assets

If you have a short-term marriage, few assets and debts, and no children – most average divorce attorneys will do. However, if you have considerable at risk, you can lose your divorce case by hiring the wrong divorce attorney to represent you. Therefore, you should be prepared to pay legal fees that are directly proportional to what you have at risk.

The Divorce Attorney You Select

Divorce is an infrequent occurrence. So you understandably have little experience in the process. In general, when human beings are inexperienced in a process they often go with the least expensive option. This can be a critical mistake because there are a wide range of abilities – from incompetent to outstanding – among the attorneys who handle divorce cases in Las Vegas.

Divorce attorneys are similar to other professionals – doctors, dentists, CPAs, Financial Advisors, etc. None have the exact same level of expertise but rather they operate in a certain range. And like all professionals, some are better for certain circumstances than others. You should always consult with more than one divorce attorney in Las Vegas. Then go with your gut, stay involved in your case, and expect frequent and intelligent communications with your divorce lawyer.

When is an Attorney the Wrong Choice?

The answer is when you have a lot at stake and hire an discount divorce attorney. There is no one who is a better judge of the abilities of a divorce attorney than the attorney themselves. Those attorneys that charge cheap rates know themselves that they’re not worth more. And they’re almost always right!

Lowering the Cost of Divorce

If you and your spouse keep your emotions in check and conduct yourselves in a civil manner, your divorce will cost far less than if you both don’t. We understand that you cannot control your spouse. In addition, we cannot control their divorce attorney. Nonetheless, we never lose our focus on protecting you. Below are some issues that will increase the costs and time frame for a contested divorce case:

One or both parties are hell-bent for revenge
One party’s strategy is to drag the case on and “starve” the other party into accepting an unfair settlement
The case requires one or more property and/or business valuations
One party may have hidden assets
The division of assets and debts requires hiring a tax attorney
A Child custody dispute requires hiring child custody experts
Accurate financial information requires hiring a forensic accountant and/or technology expert
International assets requires retaining legal counsel in other countries.

Our Las Vegas divorce attorneys will speak with you directly regarding a consultation. Call our office at 702-222-4021 to speak with one of them and see if what we offer is right for you.

What is Parental Alienation in a Las Vegas Divorce?

Posted on November 15, 2019 | by The Abrams Law Firm LLC | Leave a Comment

Children of divorcing parents are affected by the divorce process. The ages of the children, and the more involved the children are in their parents disagreements, the more they feel the effects. What makes it even harder on children is parental alienation in a Las Vegas divorce.

In a general sense, parental alienation is when one parent actively tries to convince their children that their other parent is “the bad one”. Though it is common for those parents going through a divorce to want everyone to be “on their side”, this makes children feel worse. Divorcing parents should never engage in poor parenting at the expense of their children. It also almost always backfires over time.

Stop Parental Alienation Before it Goes Too Far

Parental alienation causes, at least temporarily, children to turn away from one parent, because of the actions and/or words of their other parent. If you and your children are victims of parental alienation you should have a consultation with an experienced divorce lawyer in Las Vegas.

Parental Alienation Does Not Discriminate

Parental alienation can occur in families of all varieties. Regardless of the living arrangements, one parent can be detrimental to the relationship of the other parent and their children. Parental alienation does not discriminate. Mothers can be targets just as well as fathers. The time share plays no role in parental alienation occurring. Though obviously the more children are exposed to negative comments, the more affect those comments have on them.

The parental alienation does not always begin at the onset of divorce or separation. It often starts beforehand and can be either obvious or subtle. But it always results in targeting the other parent despite how good their parenting skills may actually be. Parental alienation includes criticizing the other parent when they try to do anything and often negates any positive acts. The alienating parent manipulates situations, twist words, and causes confusion with their children.

Visitation Schedules Can Change

Eventually children, especially younger ones, can become exasperated. They start believing the alienating parent and pushing the other parent away. Once the separation occurs, the alienating parent will start making excuses for why the children don’t want the scheduled visits. So it then becomes more difficult for the alienated parent’s involvement in their children’s lives.

Parental Alienation Almost Always Backfires

Parental alienation almost always backfires when the children start thinking more for themselves. Children begin to see things in a different light and they form their own opinions. When the children come to realize that their other parent really isn’t what they were led to believe they end up resenting the parent that instigated the parental alienation.

Divorce already causes stress in the family unit. Complicated emotions only make things more difficult to express. When one parent makes it even harder it causes more difficulties and confusion. It is unfair of that parent to cause such distress in their children and only serves to be detrimental for all involved.

Family Therapists Can Help

Professional family counseling is beneficial whenever parental alienation occurs. In addition to seeking legal advice from a dedicated divorce attorney, it is vital to get family counseling as soon as possible. It is important not to accuse the other parent but rather to seek the help required to rectify the situation. Be aware of boundaries and respond to your children with love and kindness. It will help all involved if there is no provocation.

Contact a Las Vegas Child Custody Lawyer

We can help when you need assistance on any child custody issue including parental alienation. Contact a Las Vegas child custody attorney today.

What is Important for Your Health During a Divorce?

Posted on November 15, 2019 | by The Abrams Law Firm LLC | Leave a Comment

Divorce is a difficult process and effects parents and children alike. Understandably, many parents focus on their children during this time. Therefore, they often forget about their own health during divorce. This is not the best route to take because the stress level in those going through a divorce tends to run high. It is imperative that you take good care of yourself while going through a divorce. You cannot care for others, especially your children, if you are not taking good care of yourself. It is not selfish to take care of yourself. Instead, it shows intelligence and wisdom, as well as strong self-esteem. It displays the fact that you care about yourself enough to maintain healthy habits and do what is best for your body. Our divorce attorneys in Las Vegas recommend that divorcing spouses seek counseling, get exercise, and maintain proper nutrition.

Counseling Helps You and Your Children

Seeking counseling is a sign of strength and wisdom. It takes a strong person to realize when they are in need of help. Sometimes just speaking to a counselor to clear your thoughts on a temporary basis is enough. Other times there is a deeper more long-term need. We urge people to seek counseling to help process the stress of their divorce. Counseling will also help parents assist their children with the divorce process. Many counseling professionals specialize in the family. These counselors can provide benefits to you and your children.

Exercise Delivers Physical and Mental Health Benefits

Exercise is also vital in maintaining good health, especially during a divorce. If you exercised regularly before your divorce try to continue that schedule. If you do not exercise regularly – now is a good time to start. A physical checkup from a medical professional should be done prior to initiating any exercise regimen. Going to a gym is also a great way to see new faces, meet new people, and begin moving on with the rest of your life.

Exercise induces the release of endorphins, which allow the brain and body to better fight illness and maintain a stable mental health. Endorphins trigger a positive feeling in the body, thereby reducing stress and increasing relaxation. As well as endorphins, exercise also releases other hormones such as serotonin, dopamine, and adrenaline. These hormones work together to give the body a generally good and positive feeling even while combating stress. These elements combined will help you react positively and in an emotionally healthy manner throughout, and after, the divorce process. In essence, the release of these hormones gives the body a leading edge in the battle against stress.

Yoga is also a great way to relax the body and mind. Fitness and community centers often have yoga classes. No matter the source, exercise gives people more clarity of mind in general because they are feeling stronger physically. This always spills over to the mental state of a person.

Proper Nutrition is Essential to Good Health

Cultivating proper nutrition supports the body in continuing good health. It helps the body battle stresses of all types. The additional vitamins absorbed from proper nutrition allow the body to manage stress and fight illness. Do not neglect your diet at any time. Diet is not weight loss. It’s the quality and quantity of the food you eat. In other words, diet means eating healthy foods in regular patterns, especially breakfast. Starting your day off with a light healthy breakfast can set the tone for your body’s health for the entire day.