High asset divorces are often the most complex and contested legal proceedings that family courts have to resolve. With hard-earned money, business interests, generational wealth, and financial security at stake, it is critical to work with an experienced attorney to protect your interests. As you will read below, the stakes are high in a high asset divorce, so it is important to find an attorney who will get it right.
Classification of Property Matters a Great Deal
Nevada is a community property state, which gives spouses an equal right to all property acquired during a marriage. In contrast, property that each spouse brings into a marriage, or inherits during a marriage, remains in the possession of the respective spouse. This makes the proper classification of assets a critical element of property division, as an improper classification can unnecessarily give away property rights to the opposing spouse.
It is possible to inadvertently convert separate property into marital property during a marriage. Common examples of this can include putting separate property or inheritance into joint accounts you share with your spouse. Also, using joint accounts to pay mortgages, to make home improvements, to refinance property, or to put toward a small business you began before your marriage. We partner with accounting and financial experts to meticulously examine our clients’ financial records to attempt to separate commingled assets.
Properly Appraising Complex Assets
When marital property has been classified, it cannot be overstated that all marital property should be properly appraised. An improper appraisal can essentially give a spouse more money than they are entitled, while the other spouse is leaving money on the table. Some property—like bank accounts, publicly traded stocks, and vehicles—can be a straightforward valuation. However, valuing other properties like business interests, family-owned businesses, atypical real estate, and retirement accounts present incredible complexity and difficulty. Our firm has partnership with respected experts who can thoroughly and appropriately appraise your complex property.
Viloria, Oliphant, Oster & Aman L.L.P. is Here for You
If you are getting married or your marriage is ending, let us help you protect your financial interests. Viloria, Oliphant, Oster & Aman, L.L.P. is an elite law firm that offers a full array of legal services to individuals. With over a hundred years of combined legal experience, our family lawyers have successfully resolved countless conflicts that come with high asset divorces. Our attorneys are respected, meticulous, and effective professionals. Call Viloria, Oliphant, Oster & Aman L.L.P. today at (775) 227-2280 to schedule a consultation or contact our office through our website.