Asset and Debt Distribution
In Nevada, assets and debts acquired after marriage, in most cases, are considered community property. There are some instances when this is not the such as property received by way of “gift, bequest, devise, descent or by an award for personal injury damages, with the rents, issues and profits thereof[.]” The interest in assets and debt is an on-going interest which means the community continues until the Court Orders are in place finalizing the marital relationship through a divorce or legal separation, unless the spouses enter into a contract modified their interest in the assets and debts. Additionally, the interest in assets and debts is typically equal. In certain circumstances, the Court may provide for an unequal distribution, but this is not a regular everyday occurrence.
When contemplating the end of a marriage, it is important to have as much information as possible regarding the assets and debts. Providing this information to the attorney in advance will help streamline a possible resolution of the case. Often the attorneys of Roberts Stoffel Family Law Group will request the client bring them documentation regarding the assets and debts including recent bank statements, vehicle identification numbers, loan documents, credit card statements, mortgage statements, estimates on the value of vehicles, retirement and/or investment statements, etc. Using this information, the attorneys of Roberts Stoffel Family Law Group will be able to assist their clients in completing a proposed asset and debt distribution.
In some situations, one spouse does not have access to the necessary information to do a complete asset and debt analysis. When that occurs, the attorneys of Roberts Stoffel Family Law Group are experienced and prepared to assist the client, through the use of discovery in obtaining information relevant to the issue of asset and debt distribution. Discovery methods utilized by the attorneys of Roberts Stoffel Family Law Group may include interrogatories, requests for production of documents, Subpoenas, inspections, and depositions. Additionally, when necessary, the attorneys of Roberts Stoffel Family Law Group will provide clients with references to asset locating companies and private investigators who can assist in completing the a full analysis of the community property assets and debts.
Our experienced attorneys can further walk you through this process once becoming a client of the firm. Do not navigate this complicated process alone – we can help. Call our office today at (702) 224-2778.