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High Asset Divorce

Recent Posts in High Asset Divorce Category

  • How to Protect Your 401(k) in a Divorce

    If you’ve worked hard your whole life to build up a substantial savings for retirement, a divorce can be devastating. Nevada’s community property laws state that all property acquired by both spouses during the marriage is subject to equal division, and that means you could stand to lose up to half of your retirement savings. This is a particularly worrying trend for those who are getting a ...
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  • Do You Need a Prenuptial or Postnuptial Agreement?

    Talking about prenups and postnuptial agreements certainly isn’t the most romantic conversation, but it can be necessary and extremely beneficial. Not all couples consider establishing a marital agreement or want to think about a future involving divorce , but perhaps they should. The typical idea is that prenuptial or postnuptial agreements are established for the wealthy, and while there is a ...
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  • How Are High-Asset Divorces Handled Differently?

    Although each divorce has its own set of obstacles, high-asset divorces tend to be more complex than most. When a couple shares a large number of properties or funds in their marriage, the division of those assets in a divorce can become complicated and may take longer to handle. If you have a large amount of individual or shared assets in your marriage, make sure you deal with your high-asset ...
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  • Preparing for a high asset divorce

    One word that is not used often when describing a Nevada wedding engagement is "cautious." However, financial advisors say that if more couples used caution before getting married, there may be fewer people left with depleted bank accounts after a high asset divorce. Divorce is costly, and the financial ramifications can be avoided with good planning. Prenuptial agreements are not popular topics ...
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  • Separation: a useful tool that can help you decide on divorce

    Correct Terms Many people may muddle the words " separation " and " divorce " in their heads, but actually these are two distinct legal processes that relate to family law. A divorce is the end of a marriage -- it leads to the legal dissolution of the marriage. But a separation agreement is different. The marriage stays intact and the separated couple, though living under divorce-like conditions, ...
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  • Modifying your divorce arrangement is part of life

    Divorce is one of the those processes that most people want to get done quickly and then never think about again. This is understandable for the most part because it is a difficult process that obviously involves a lot of emotional elements and anxious moments. People want to move on with their lives -- but first they have to get this difficult legal act done. Part of completing a divorce involves ...
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  • Dollar amount not all that matters in high-asset divorce settlements

    Divorce settlements differ greatly from one another. Some deal with relatively small amounts of property. Others though can involve incredibly, or possibly even astronomically, high dollar amounts. Just how much in the way of assets divorce settlements can end up dealing with can be seen in a recent article on Money’s website. The article contained a list of the most expensive divorce settlements. ...
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  • On spousal support and the tax implications of it

    There are so many factors that can be involved in any given divorce. There's child custody and child support; there's alimony and property division; there are prenuptial agreements and family businesses. Depending on the case, certain elements will be prevalent. Others will not. We say all of this in the context of spousal support, which can be very helpful for people who are trying to ...
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  • The rise of gray divorce, and what it means for older couples

    You may have heard of a divorce phenomenon called "gray divorce" before. The phrase may be a playful one, but it refers to a serious movement: many people over the age of 50 are filing for divorce, even during a time in society where divorce filings are remaining relatively stable, if not declining. In fact, the number of older people who are getting divorces nowadays is more than double the rate ...
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  • How credit, debt and divorce are related

    With the myriad issues related to divorce, it is understandable for certain ones to fall through the cracks, at least in your mind. It is difficult for anyone to keep everything organized and "in line" given the emotional toll a divorce takes on you and the many topics that it covers. That said, two related issues involved with divorce that everyone should be considering (but often goes unnoticed) ...
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  • Residency Requirements for Divorcing in Nevada

    When your marriage is no longer working, it may be time to consider filing for divorce. While it is relatively fast and easy for residents of any state to get married in Nevada, you cannot file for divorce here unless either you or your spouse meets minimum residency requirements. The good news is that, even if you recently relocated to Nevada, you may still be considered a resident because the ...
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  • Business and divorce: a complex relationship

    There are many married couples out there that have an extensive amount of assets, may they have been obtained prior to the wedding or after it. These assets obviously carry immense value, may it be literally or sentimentally. But one of the most important assets that some couples have, if not the most important asset, is a company. Sometimes couples create a business together, but in other cases ...
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  • Why are March and August popular times for divorce filings?

    A new study may have shed some light on why divorce filings are seeming more popular and prevalent in the months preceding and following the holiday season. Researchers from the University of Washington looked at divorce filing data from their state from 2001 to 2015. What they found are two profound spikes in filings during the months of March and August. Between those months are a plateau of ...
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  • Child Support Determinations Can Be Complex In High Asset Divorces

    Child support payments are intended to provide funds to help the non-custodial parent financially care for a couple's children when the couple is separated or divorced, because the non-custodial parent typically incurs more of the child care expenses. In a divorce proceeding for a low- or middle-income family, child support decisions are largely standard mathematical calculations; Nevada statutes ...
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  • Some clauses are okay, others aren't in a prenuptial agreement

    About six weeks ago, we wrote a post about prenuptial agreements and how couples that are getting married can benefit just by having the prenup conversation. They don't even have to go through with the actual contract. By having the talk, the couple can address critical financial topics that they may never have considered if they had never discuss a prenuptial agreement. Property, assets, income, ...
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  • Why the prenup conversation can be beneficial

    A prenuptial agreement provides a sense of security for a married couple, but it also isn't for everyone. Many years ago, prenuptial agreements were seen as an almost-rude suggestion that no couple that was "truly in love" would ever sign. It was seen as preparing for divorce before you even walked down the aisle. As a result, the prenup was branded an "anti-love" contract and many people didn't ...
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  • How Are Inherited Assets Treated In A Nevada Divorce?

    During any divorce, property division can become contentious; that is especially true in high-net worth divorces. Because Nevada is a "community property" state, most assets acquired during a marriage are considered the property of both spouses in a divorce; the burden of proof is on each spouse to convince the court that there is some reason to divide assets unevenly. What property is "separate" ...
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  • Get an attorney when divorce comes calling

    Given the staggering number of potential issues that can arise during a divorce, it is no wonder that the whole process is so daunting and that many spouses are afraid of what may happen. If you feel this way heading into divorce, it is perfectly natural. You shouldn't feel bad about yourself or even feel like you are unprepared. Divorce is uncharted waters for most people, so it is perfectly okay ...
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  • When paying or receiving alimony, keep detailed records

    Last year, we wrote a post about alimony in the state of Nevada and how it can impact a high asset divorce. Today we're going to expand on that discussion by talking about the recordkeeping behaviors and actual physical records that you should maintain to ensure that your alimony is being handled properly and legally. The first thing to note about alimony is that it has massive tax implications, ...
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  • In a divorce, social media has an evidentiary role

    There are a lot of reports recently that say there is link between social media use and divorce, with the former causing the latter. But that isn't the only connection between social media and divorce. Today, social media is an important piece of evidence that spouses can use to make their case or to alter agreements after a divorce has been finalized. Consider all of the things that people post ...
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  • Be careful when checking on your spouse's financial situation

    When Nevadans see divorce in their future, many begin to do some due diligence to determine just what their and their spouse's financial situation is. They also may want to find out just what assets and liabilities their spouse has. This is particularly true for people who believe that their spouse may assets they don't know about. One seemingly-easy way to find this out is to get a copy of your ...
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  • Could your spouse hide marital assets with Bitcoin?

    A property settlement is an important element of any divorce settlement. This is especially true where the couple has been married for many years and has substantial assets. It is also important for couples where one spouse, typically the woman, remained home, often caring for the children. Because these women may have abandoned a career two or three decades ago, they may have few readily ...
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  • Divorce filed after domestic violence complaint against actor

    The wife of Scandal actor Columbus Short has filed for both a divorce and a temporary restraining order against Mr. Short after police were called to their home to respond to a domestic violence report. They have one child together who is two years old. This is the second time that Mr. Short’s wife has filed for divorce, the first time was last year but the pair apparently reconciled and the ...
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  • Nevada wedding brings up divorce controversy

    Protestors at a Nevada wedding voiced their discontent towards a groom’s refusal to grant his previous wife a religious divorce, despite being civilly divorced for about seven years. The religious divorce is necessary because the man and his first wife are both observant Orthodox Jews, and Jewish law requires a religious divorce before either spouse can remarry. Unfortunately the religious divorce ...
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  • Controversy ignites over no-fault divorce legislation

    Here in Nevada we often take no-fault divorce for granted as it has become a fixture of our family law system. No-fault divorce means that a spouse can file for divorce without citing a specific reason for a breakdown of the marriage and without approval from a judge that the facts support that reasoning. No-fault divorce is the norm in almost every state in the country at this point, but one ...
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