If you are going through a divorce in the state of Nevada, one significant concern to you may be the way in which the property is going to be divided between you and your spouse. The laws for the division of marital property vary from state to state. The state of Nevada is a community property state which means that all income that was earned during the marriage by either spouse as well as property that was purchased with the income must be divided equally between the spouses. Furthermore, any debts that were incurred during the marriage are the obligation of both spouses equally absent an agreement otherwise.
Ways That Property Division Can Be Altered in Nevada
A separation agreement can be used to alter the way in which marital property is divided. This type of agreement is often used when a couple agrees that the equal spilt of assets is not equitable. Furthermore, if the equal split of assets cannot be agreed on and a divorcing couple cannot come to another agreement on how to divide property fairly, a party can strive to convince the judge that there exists a compelling equitable reason that the property should not be divided equally between the spouses. Thus, a judge has the power to deviate from the traditional community property split if presented a compelling reason to do so. A top divorce lawyer in Nevada like Ken McKenna, Attorney at Law can help you receive an equitable division of marital assets.
Not all property that each member of a divorcing couple owns is considered to be marital property. The property that a person had before he or she got married is considered to be separate property which is not divided in the divorce. Furthermore, money generated form the separate property is also considered to be separate property in many instances. Gifts that were given to one spouse during the marriage may also be separate property. In order to determine whether or not a piece of property is separate property or community property, the court looks at when the spouse came into ownership of the property, how the spouse came into ownership of the property, and how the property was used. If the property was never used as marital property, then it may be considered separate property; however, there is a presumption that property acquired during the marriage is community property unless a party can show otherwise.
If much of a party’s assets were acquired before the marriage, a spouse can maintain his or her separate property at the time of a divorce in a way in which the other party walks away with significantly less. The other party, however, has the right to request alimony so that the standard of living to which he or she has become accustomed during the marriage can be maintained. A party’s entitlement to alimony takes into account the non-financial contributions that the party brought to the marriage. The determination of alimony is not part of the property division process.
You Need a Top Divorce Lawyer in Nevada to Handle Your Divorce
When you are getting divorced, this is a trying time already and you need to be sure that your property interests and your future security are protected. A top divorce lawyer in Nevada such as Ken McKenna, Attorney at Law can help you get the equitable property division and alimony award that you deserve. For further information or schedule an appointment with Ken McKenna, Attorney at Law please call 775.329.6373 or visit www.KenMcKenna.com.