Whether a couple is heterosexual or homosexual, living together in a romantic relationship and/or sexually intimate relationship without formally registering their relation as a marriage it is called cohabitation. As many boomers are finding out, they may want to cohabitate with a person for the purpose of sharing expenses without a romantic relationship involved. There are many reasons parties may want to… READ MORE
For the state of Nevada, retirement, pensions, 401ks, IRAs, and other assets are considered community property. This means that each spouse is entitled to half of each other’s retirement benefits that were accrued during the marriage, but in order to divide those retirement accounts you have to go through a Qualified Domestic Relations Order (generally referred to as a QDRO).… READ MORE
For those finalizing divorces after December 31, 2018, the Tax Cuts and Jobs Act (TCJA) of 2017 will change how alimony is treated on your federal income tax return. If you stand to benefit from the earlier tax laws for alimony, you may want to speed your divorce agreement along so that it’s settled before the end of the year.… READ MORE
In the first part of the Child Custody and Child Support series, it was addressed that understanding which factors to consider when creating a child custody or child support agreement is crucial to creating a lasting and satisfactory solution. In the second part, explore how to request a modification in a current child custody or child support agreement. However, the… READ MORE
For many people, there is no outcome in a divorce more important than maintaining the ability to nurture a healthy relationship to your children. For that reason, achieving a fair and beneficial child custody and child support order during your initial divorce proceedings is crucial. In the first part of the Child Custody and Child Support series, important factors to… READ MORE
Divorce rates overall for Americans are lower than they were five years ago. However, the number of people over the age of 50 who are splitting up is on the rise. This is referenced as Gray Divorce, which is a term referring to the demographic trend of an increasing divorce rate for older (“Gray-haired”) couples in long-lasting marriages. Divorce can be a… READ MORE
A major topic that is bound to come up during the divorce process and child custody agreements is the job status of each spouse. Typically, a spouse or parent will be considered employed, underemployed, or unemployed. The current job status of each spouse is an important factor for the judge to take into account when determining alimony or child support… READ MORE
Dividing assets between spouses is known to be a detailed and time-consuming process, but with bitcoin now being thrown into the mix, the process is becoming even more challenging. Bitcoin, a cryptocurrency, is a new form of money in the form of electronic cash. Created back in 2009, it’s now seeing a rise in popularity. Usage of bitcoin has become… READ MORE
In Nevada, all assets from a marriage are considered “community property”. Under community property laws, assets are divided equally upon divorce. However, debts must be divided in a divorce as well. Any debt that either spouse has incurred during their marriage is considered part of their community assets. This means that debts in either name will be divided 50-50. Even… READ MORE
When a couple dissolves their marriage, they have a lot of assets to split between them. One of these assets is debt. Because Nevada is a “community property” state, it’s likely that any debts you and your spouse have — loans, credit card debt, and other bills — will be split 50-50. Although a divorce will not impact your credit… READ MORE