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Property Division

Recent Posts in Property Division Category

  • Reasons Why a Prenup May Be Invalidated

    If you paid attention to the news back in 2013, you may have read about how a Brooklyn court threw out a couple’s prenuptial agreement signed by a Long Island woman in 1998 before marrying a millionaire. This court action set a precedent and divorce attorneys across the country took notice. Have more prenups been tossed out of court since? While we can’t say if there has been an uptick in prenups ...
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  • Divorce: Do You Need a Forensic Accountant?

    If you’re a high-net-worth individual, your divorce will be distinct from traditional divorces. Your divorce will be more complicated for one reason and one reason alone: the sheer volume of assets involved. So, does this mean that you’ll benefit by adding a forensic accountant to your divorce team? First, let’s discuss what a forensic accountant is and what they do. Justin Pope of the Associated ...
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  • Can You Disinherit a Spouse in Nevada?

    “Can I disinherit my spouse?” is a question that a lot of high-asset individuals ask, whether they are engaged or contemplating divorce . This is understandable since the modern family has changed significantly over the years. Today, same-sex marriage, second and third marriages, and blended families are increasingly becoming the “norm,” and we’re only scratching the surface. There are many other ...
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  • What to Do With a Business in Divorce

    It’s common knowledge that entrepreneurship can be a daunting task and a large percentage of new businesses fail in the first five years. If you have built a business from scratch and it’s turned into a successful venture, you are probably very attached to the business. The business probably feels like your “baby” and your employees, like your second family. But now that you’re facing a divorce, ...
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  • Does Adultery Impact Spousal Support in Nevada?

    If your marriage has been affected by adultery, you are not alone. A large percentage of marriages are destroyed by infidelity. This is especially common among CEOs and couples who are apart much of the time because of their high-profile and lucrative careers. As a busy spouse must tend to business, it can drive a wedge in the relationship to the point where the spouses disconnect and one or both ...
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  • Wasteful Dissipation of Marital Assets in Nevada

    As emotional as divorce is, it’s actually a business transaction because it’s all about the division of assets and debts . While Nevada is technically a community property state where both spouses are entitled to a 50% interest in all assets and income acquired during the course of the marriage, marital waste or “wasteful dissipation of marital assets” is one factor that can change how community ...
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  • Special Challenges with CEO Divorces

    The lifestyles of CEOs are typically quite different than other people’s. Usually, CEOs have full schedules and travel frequently for work. By the nature of their high-level position, they lead extremely busy lives. Unfortunately, the hectic CEO lifestyle can lead to trouble at home, and this is no mystery to Boards of Directors. Representing a CEO during his or her divorce is unique from other ...
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  • Divorcing? Why You May Want to Hire a Forensic Accountant

    Some Nevada divorces are simple – they involve a house, bank accounts, two automobiles, and perhaps one or two retirement accounts. Other divorces, especially high net worth divorces , are more financially complex. High-asset divorces often involve the standard assets mentioned above, but they may also involve restricted stock, businesses, life insurance policies, multiple real estate properties ...
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  • Could Cryptocurrency Affect My High Asset Divorce?

    Anyone who has followed technology and financial news over the past few years is likely familiar with cryptocurrency, i.e. digital money which is encrypted to generate units of currency and verify the transfer of funds without operating through a central bank. Yet for individuals entering high net worth divorces, cryptocurrency is quickly moving away from being an exciting possibility of the ...
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  • The Top 6 Issues in High Asset Divorces

    Divorce is complicated no matter what the circumstances are. However, high net worth divorce cases are particularly complex , given the level of assets couples are generally forced to divide. As the old saying goes, more money, more problems. Yet while you may have 99 problems, your divorce doesn’t necessarily have to be one, with the Henderson divorce attorneys from Ford & Friedman . Our skilled ...
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  • $137 Billion Is on the Table in the Bezos Divorce

    $137 billion is currently on the table in the divorce proceedings between Amazon CEO Jeff Bezos and his wife, Mackenzie Bezos, as that is what the tech magnate is currently worth. This development arrives just a year after Bezos became the richest person in the world. Although the news has yet to reverberate on Wall Street, Amazon investors are likely still waiting to see how settlements will ...
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  • Is a Personal Injury Award Divided in a Nevada Divorce?

    When it comes to a divorce with significant assets, one of those assets may include a personal injury settlement. Although the award may be meant for the injured spouse, all assets and property accumulated during the marriage are considered marital property. So how is a personal injury award divided in a Nevada divorce? If the injured spouse obtained the personal injury settlement before entering ...
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  • The Role of a Forensic Accountant in a Divorce

    If you are involved in a high-asset divorce , the division of marital property can be comprehensive, to say the least. Although a knowledgeable divorce lawyer can provide effective assistance with dividing property, professional assistance from a forensic accountant can help you tackle the most complex financial situations. The role of a forensic accountant on your team is to assess and disclose ...
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  • 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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  • Will Divorce Affect My Retirement Benefits?

    During the process of a divorce, it is necessary to divide all of a couple’s assets and liabilities. Some often overlooked assets are retirement benefits. You may have spent many years saving up for your retirement, but it is possible that you will need to divide your savings and other retirement benefits with your soon-to-be ex-spouse. Below are some of the ways divorce may affect your retirement ...
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  • What to include in your prenuptial agreement, part 2: responsibilities

    After you have figured out the necessary financial arrangements, take a look at the nonmonetary responsibilities that need consideration. Knowing what is expected when you go into the marriage can not only help in case of separation but also provide an understanding about what each partner expects of the other throughout the union. Keep in mind that there are many personal agreements that will not ...
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  • Debt and property division can be discussed during separation

    Frequently, when couples in Nevada have difficulties in their marriages, they decide to separate for a period of time while they consider if they want to stay together or end the marriage. During that time of separation, it may be wise for couples to take some precautionary steps with their finances. Addressing these issues during a separation may save some stress if the two decide to divorce and ...
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  • Marital property more clearly defined with prenuptial agreement

    In the past three years, family law attorneys have noticed a shift in trends regarding prenuptial agreements. In fact, more than half of the attorneys in a recent survey have seen an increase in premarital contracts in recent years. While many couples in Las Vegas still feel that their financial situations do not warrant such an agreement, some are finding that the prenuptial is the best way to ...
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  • What to include in your prenuptial agreement, part 1: finances

    When an engaged couple is nearing their wedding day, there are many things on their minds. A photographer, dress, invitations and venue are all important items to check off the list, but one of the best ways to prepare for marriage may be with a prenuptial agreement. Drafting a prenuptial agreement doesn't necessarily mean you're planning to divorce someday (though it will certainly protect you if ...
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  • Practical preparation for the division of assets and debts

    According to a new study, many divorce filings take place in August when summer vacations do not live up to expectations. While some in Nevada may be shocked when their spouses file for divorce, others admit they saw signs long before the papers were served. A person who suspects the end may be coming may have time to do some important preparation before the division of assets and debts are ...
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  • Community property: what it is and what it means for you

    There are two types of property division: equitable distribution and community property. Neither form necessarily leads to an "even" division of property. Equitable distribution seeks to find a "fair" division of property. What "fair" means in the context of a given divorce changes from case to case. Meanwhile, community property often leads to the spouses dividing the shares of an asset 50/50 -- ...
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  • How pet custody can be solved in light of a divorce

    While our source article for today's blog post is from seven years ago, the topic itself is an important one when couples divorce. Today, we're talking about pet custody. Not every couple has a pet, just like not every couple has children. But for the couples that do have pets, getting a divorce can raise a very significant question: what happens to our pet when we go our separate ways? You may ...
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  • How well do you know the finances of divorce?

    You probably understand that your finances will be affected because of divorce. But knowing more specifically what will be affected and penalties you could incur might save you money and frustration later on. Here are a handful of financial facts and fallacies for you to consider. True or False? 1. Hiding my assets is a good way to protect them from my spouse. Answer: False. If you are hiding ...
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  • Woman can keep engagement ring, judge rules

    The time between getting engaged and finally walking down the aisle can be long, and the stresses of planning a wedding and preparing for a life together can be great. As a result, some couples decide during this time to postpone or call off the wedding and end the engagement. When this happens, there is the important matter of who is entitled to keep the engagement ring. There are two basic ...
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  • Special challenges arise for divorce after 50

    Today one in four people getting a divorce in the United States is over the age of 50. 20 years ago that number was much smaller, with only one in ten people being over the age of 50. Part of this increase could be coming from the generally aging population, but sociologists say that there is much more to the phenomenon than that. One main factor is likely that women are more economically ...
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