Reno Property Division Lawyer

Creating Fair Distribution of Assets & Property in Nevada

Nevada is one of the few community property states in the U.S. This means that both spouses have equal rights to assets and property acquired during a marriage. For this reason, the state demands these assets be distributed equally in the event of a divorce unless both parties agree to a different arrangement.

Many factors influence property division during divorce. Our family law attorney in Reno can help you understand the law and serve as your advocate in court. We are relentless when protecting the best interests of our clients.

What is Property Division?

In family law, property division is the equitable distribution of assets and liabilities between parties involved in a legal separation, divorce, or annulment. These assets may include real estate, financial accounts, investments, businesses, and personal belongings. It is essential to approach property division with precision and a profound understanding of the legal landscape, and that is where our expertise at Kelli Anne Viloria comes into play.

How is Property Divided in Nevada?

The state of Nevada observes the principle of equitable distribution regarding property division. Contrary to some misconceptions, equitable distribution does not necessarily mean an equal 50-50 split. Instead, it implies a fair and just division based on various factors the court considers.

Nevada law requires the court to consider elements such as the length of the marriage, each party's contribution to the acquisition of the property, the economic circumstances of each spouse, and any prenuptial or postnuptial agreements. At Kelli Anne Viloria, we are well-versed in the intricacies of Nevada's property division laws. We are devoted to ensuring that our clients obtain fair treatment in the division of assets.

Property Division Process in Nevada

Navigating the property division process in Nevada involves several key steps, including:

• Identification of Marital and Separate Property: The first step in property division is identifying which assets are marital property (acquired during the marriage) and which are separate property (owned before the marriage or acquired through gift or inheritance). This distinction is crucial as separate property is generally not subject to division.
• Valuation of Assets: Once the marital property is identified, the next step is determining each asset's value. This includes real estate, financial accounts, businesses, and other valuable items. Accurate valuation is essential for an equitable distribution.
• Consideration of Contributing Factors: The court considers various factors when deciding on the distribution of assets. Factors such as each party's financial contributions, non-financial contributions, and the length of the marriage play a significant role in the court's decision.
• Negotiation and Settlement: In many cases, couples can reach a mutually agreeable settlement through negotiation.
• Court Intervention if Necessary: If negotiations fail, the court may need to intervene and decide on property division. Having experienced representation is crucial during court proceedings to ensure that your rights are protected.

Why Hire a Lawyer For Property Division

There are several reasons you will want an experienced divorce lawyer representing your interests during this process. First, defining “equal” property is not a cut-and-dry process. Estimating one object’s value against another’s is not as simple as finding a price tag. You may have to argue with the court why you should have more than what they believe to be equal.

Another reason you will want an attorney’s assistance is that you may decide an equal distribution of assets is not a fair arrangement for your situation. It is possible to challenge equal asset splits, but only if you can convince the court that it is a better situation. An attorney who understands the state divorce law and is well-respected in local courts is a major asset in this endeavor.

Contact Our Property Division Attorney in Reno Today

Community property law can make divorces much more frustrating. The court may decide your spouse is entitled to half of your retirement plan or personal savings. Worse still, you may even inherit half the debt accrued by your partner. If you and your spouse cannot come to an agreement on your own, you can rest assured that your spouse will be hiring an attorney to protect their interests. You will need a fierce advocate of your own to look out for you. Our Reno property division attorney, Kelli Anne Viloria, is strong, poised, and committed to helping clients achieve the best outcome possible.