Nevada Divorce & Finances
UPDATED: March 3, 2020
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The division of joint finances in a divorce can be a difficult and stressful process. Itï¿½s only natural that you might have some questions about separating joint finances. For instance, how will your property be divided? What are the tax implications? Are there estate planning issues to settle? Furthermore, will there be spousal support payments, and if so, how will these payments be structured? The following headings present specific Nevada laws pertaining to divorce and finances.
Nevada Property Division/Community Property/Debts:
Nevada is a ï¿½community propertyï¿½ state, meaning that all property that was acquired during the time of the marriage is divided equally, 50/50, unless the parties are able to come to their own agreement separately. When the court must decide, it considers the nature of the community property, separate property, the length of the marriage, and economic circumstances of the spouses, among other factors.
Nevada Spousal Support/Nevada Alimony:
There is no automatic obligation for either spouse to support the other in the event of a divorce. The court may, however, grant spousal support (also called maintenance) on a case-by-case basis, based on consideration of a number of factors, including:
- The financial resources of the party seeking maintenance;
- The time and input of resources necessary for the party seeking maintenance to find appropriate employment and sufficient education and/or training for that employment;
- The established subjective standard of living during the marriage;
- Marriage duration;
- The physical and emotional condition of the party seeking maintenance; and
- The ability of the potential supporting spouse to meet his/her own needs while meeting those of the other spouse.
Nevada Divorce/Child Support/Child Custody Lawyers:
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