Nevada Divorce Firm with 100+ Years of Experience
Nevada is what is known as a “community property” state, which sounds extremely simple on the surface. Any property gained over the course of a marriage falls into the category of community property, and the judge will try to divide these assets as fairly as possible.
However, in practice it can be very difficult to determine which assets are community property. At Viloria, Oliphant, Oster & Aman L.L.P., our Reno property division attorneys are backed by over a century of family law experience and strong case results. We can advise you on potential problems with your separate property, and help you understand your legal rights.
Ready to discuss your case with a skilled divorce attorney? Call 775.284.8888 today to get in touch with our team.
Defining Separate and Community Property
The most basic definition of “separate property” is property or income that you acquired prior to getting married. Because it can take a long time to untangle those assets from your community property, the court will try to distinguish the two early on in the divorce proceedings.
This is where your ex-spouse may try to take advantage of your pre-existing assets, particularly in a high-asset divorce. By claiming that you used funds acquired during your marriage to cover costs for a separate property, your ex may be able to convince the judge that it should be split equally between the two of you. This can include items like investment funds, real estate, 401k savings, and more.
Here are some of the ways our team can help you combat claims for community property:
- Demonstrating that the property was a gift intended only for you, the recipient
- Showing through financial statements that no community funds were used for the property
- Tracing the origin of the purchase back to before your marriage began
The longer your marriage was, the more difficult it can be to perform the tasks above and disentangle property like mortgages, loans, or real estate. To avoid lengthy court battles, you’ll need to have skilled legal counsel with an understanding of financial matters.
What If My Divorce Involves a Business?
If you own your own business, this will also be considered during property division proceedings, as businesses are considered assets. For some it’s a clear-cut case of separate property, particularly if you inherited the business directly from a parent or relative. However, in most cases, your soon-to-be-ex may have a claim to classify some portion of the business as community property.
Your business may be considered community property if any of the following took place:
- Your spouse performed labor, whether on or off the clock, to help your business grow.
- Your spouse contributed to a fund that was used to pay business debts or purchase overhead.
- You and your spouse divided funds from the business profits.
- You and your spouse contributed to an investment fund with profits from the business.
When you have a complex property division case, our Reno divorce lawyers at Viloria, Oliphant, Oster & Aman L.L.P. can help you handle any challenges that arise. With unparalleled attention to detail and a Certified Family Law Specialist (CFLS) on staff, our tightly-knit legal team can draw on vast resources to ensure that your separate property is protected.
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