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high asset divorce Archives

How to make financial preparations for a divorce

Nevada couples who are ending their marriage might be worried about how it will affect them financially. By taking stock of finances before the divorce is underway, people can begin to understand how property might be divided and what a budget might look like when they become single. Tracking household expenses and gathering documentation, such as bank statements and tax returns, may help in this review of finances. Gathering documents might also help in the event that the other spouse is reluctant to share financial information later in the process.

Family business and divorce

Divorce for Nevada couples is often a stressful situation. It can become even more so when there is a family business at stake. Even in situations where spouses choose to take a mature approach to their breakup, there are several legal and financial issues involved in deciding what happens to a family business. Fortunately, there are several strategies that can be used that will keep the business intact even if a marriage fails.

Understanding how QDROs work

When a Nevada couple divorces and one of the individuals involved has a retirement account, it may be necessary for a qualified domestic relations order to be created. A QDRO is a legal document that outlines how assets from a retirement account will be distributed. Normally, retirement accounts will only pay out assets to a named beneficiary or the owner of the account.

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