Divorce Asset Division
Asset Division During a Divorce
Las Vegas Divorce Lawyer
The asset division of a divorce may be a complicated matter. Achieving an optimum asset division requires not only knowledge of divorce law but skill in evaluating the value of businesses, pensions, and securities. Where one spouse seeks to hide assets or conceal value, no-nonsense investigation may be required. You are urged to contact a Las Vegas divorce attorney for vigorous defense of your rights.
Property Division Concerns
- Community Property: All property acquired during the marriage from either spouse’s income is community property. This is to be divided 50-50 regardless of who earned the income.
- Separate Property: Property brought in to the marriage is that spouse’s separate property. Inheritances and gifts to a spouse during a marriage are also separate property. If a spouse contributes separate property to a community asset such as using separate funds to buy a house, the spouse is entitled to reimbursement of the contribution.
- Pension Benefits: The portion attributable to the spouse’s work during marriage is considered community property and to be factored into the property division.
- Liquidity: If a spouse takes the house, it is vital that the property division allow for cash to pay for property taxes and other upkeep.
- Assets Protection: Some assets are better for a spouse than others. For instance a physician likely to be sued should take pension benefits that are immune from lawsuit. A schoolteacher with little likelihood of suit would benefit more from a stock portfolio easily converted to cash.
Divorce Attorney in Las Vegas
The legal team at The Firm provides aggressive advocacy of spouses involved in property division of assets in the Las Vegas area. Clients appreciate our guidance about tax, liquidity and asset protection factors. We are practiced in tracking down hidden assets and concealed value. While making every effort to negotiate an equitable division, if the other spouse refuses to be reasonable, we are prepared to take the matter to court to achieve what is just.
You are urged to speak with a divorce attorney at the firm for a free initial consultation. If your spouse is the primary breadwinner in the family, we can seek an order to your spouse to pay your attorney’s fees.