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Reno Nevada Family Law Blog

Financial repercussions of divorce can continue after settlement

Financial issues can be some of the most challenging aspects of a divorce for Nevada couples. In addition, they can have significant long-term consequences that last far beyond the emotional and immediate practical concerns that arise. Even after the process has been concluded, there are still a number of financial tasks that can help to ensure a successful post-divorce financial future.

The divorce agreement itself will lay out the most important aspects of the financial split, but it will still require work to put the agreement into practice. When dividing a retirement account, it may be necessary to obtain a Qualified Domestic Relations Order from the court in order to avoid taxes and penalties. Dealing with the marital home can be another challenge, as the parties may need to work together with a real estate agent in order to market it successfully and divide the proceeds.

Staying civil during divorce

While there are many couples in Nevada who divorce amicably, some divorces are tainted by bad feelings. These feelings may be the result of poor behavior by one or both spouses. In such cases, spouses may feel that it isn't enough that the marriage is coming to an end, and that they have the right to use the divorce process to get revenge on their soon-to-be exes.

Unfortunately, vengeful spouses seldom achieve satisfaction. In fact, they often encounter disappointment from the court system and may hurt themselves, and their children, in the process. This is because the family court system isn't intended to help one spouse harm the other. The reality is that judges and lawyers are quite familiar with the types of bad behavior that can lead to a divorce. Judges aren't going to be shocked by adultery, overspending, substance abuse or spousal neglect. Even legitimately victimized spouses are likely to find that their attempts at using the system to punish the person who harmed them will backfire. Increased legal costs are one possibility, as is a less favorable financial settlement or child custody agreement.

What is in the best interest of my children in a divorce?

When couples consider divorce, one question that tends to pop up is, "Would a divorce be in the best interest of our children?" Often, the answer is yes, especially compared with the alternative of children seeing their parents fight.

A similar question arises during custody and visitation discussions. What is in the best interest of your children then?

Divorce among millenials

Many Nevada residents will get married during their 20s. Some will also get divorced. Young couples who divorce often have to deal with unexpected challenges.

Many individuals find that they feel embarrassed about sharing the news of their divorce with friends and family members shortly after sharing the excitement of being newlyweds. Some may feel isolated within their social group because it is less common for adults in their 20s to have experienced divorce than it is for older adults. Many people feel that there is a stigma associated with getting divorced and believe that they have failed in their relationship. However, it is important for people to keep in mind that divorce is often simply the result of spouses who want to take their lives in different directions.

Why some couples may be racing to divorce court in 2018

Couples in Nevada who have been experiencing marital problems may find themselves considering divorce. While divorce is a serious matter that requires careful consideration, recent changes to the tax code may cause some couples to hasten the separation process.

Until the recent federal tax code reform, an ex-spouse paying alimony could deduct those payments from taxable income. Alimony payments were counted as taxable income for the recipient.

Emotional detachment is helpful in divorce

People going through a divorce are likely all too familiar with the high emotions that run through the entire situation. Overwhelming feelings such as anger and hurt can cloud judgment and make it incredibly difficult to make rational, thoughtful decisions. 

Although it may be very challenging to keep emotions in check when it comes to divorce, there are many benefits to making this important effort. Here are just a few things to reflect upon when it comes to dealing with emotions during the divorce process.

Tech industry divorces can come with start-up pain

For people in the tech industry and various other high-profile careers in Nevada, divorce can bring with it its own set of challenges on both personal and practical levels. While disentangling the emotional bonds of a marriage can be extremely painful, especially when children or long-time partnerships are involved, this can be accentuated further by the financial complexity of a high-asset divorce. Asset division in a divorce that involves investments, real estate and other traditional properties as well as more speculative assets, like startup companies or inventions, can be the source of many disputes.

The tech industry has, in many cases, encouraged a startup culture that promotes entrepreneurship and innovation. Of course, great risk can bring great reward, but it can also lead to failure. It can be difficult to properly value startup companies that have not yet been sold or offered for public investment, which can make the division of that asset during a divorce particularly challenging. This complexity is compounded when one partner is significantly more involved in the business.

Properly dividing art work in a divorce

When an individual owns a piece of art or an entire art collection, it may be difficult to determine how to divide that asset in a divorce. Even if a couple has a prenuptial agreement, the agreement could be ruled invalid by a judge. It is also possible that the document may not address the art as it could have been signed prior to acquiring it.

In many cases, determining ownership of an asset may boil down to who provided the funds for the asset. This may be done by looking at which names appear on the bill of sale. However, it may also be necessary to determine which account the money came from and who is the owner of that account. If an asset is deemed to be acquired during the marriage, its value may be hard to determine for property division purposes.

Why new divorce filings spike in January

Nevada couples who find themselves questioning the viability of their marriages in early 2018 may want to know that they are not alone. Although it may not be the most festive way to ring in a new year, divorce filings often spike in January as the holiday season draws to a close. While many legal observers may believe that the glut of new filings springs from a single cause, there may be a number of reasons that January has unofficially become known as Divorce Month.

Spouses who become swept up in cinematic scenes of holiday merriment and dreams come true may want to believe that the magic of the season will resolve any problems in their relationship. However, their issues may become starkly evident as the new year begins and the twinkling lights and sparkling tinsel are packed away once again. Some couples may find that the stress of the season has pushed uncomfortable emotions to the breaking point by the beginning of January, while others may discover that planning for the year ahead includes evaluating the state of their marriage.

Why are divorce filings more common after the holidays?

The holidays are generally a time of celebration and family togetherness. So why are you thinking about a divorce now, of all times? If you are considering a divorce after the holidays, you are not alone. In fact, this is one of the most common times of the year for people to decide their marriages are over.

Divorce experts told USA TODAY that, in addition to the end of summer, divorce filings peak in March - a time when people are beginning to unwind from the stress and excitement of the holidays. You may have been unhappy in your marriage for years, or something this year finally could have made you decide it is all over. For whatever reason, the end of the holiday period also signified the end of some things, but also the start of something new.

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