Community Property and Hidden Assets

Graphic of play houses in different colors

Nevada utilizes the community property method of dividing property when a couple obtains a divorce. Community property gives each spouse an equal right to all property earned and acquired during a couple’s marriage. While this sounds like a straight forward practice, in theory, few issues set people’s emotions ablaze like the division of property.

The anger, sadness, and uncertainty of that people feel when the end of their marriage can manifest in ugly ways. One of the poor choices that we see is messing with community property in an attempt to punish the other spouse or to diminish the amount they walk away from the marriage with. We see people destroy property, sell it for pennies on the dollar, and transfer property. We also see people attempt to hide community property.

There can be grave consequences for people who choose to engage in this behavior. This can range from returning assets to compensating the other spouse for the hidden assets, to fines, contempt, and jail time. This is why we always insist that our clients provide a full and honest accounting of their property—and allow us to fight for their financial interests in court.

Finding Hidden Assets

People hide assets in really creative ways, such as stashing valuables in safety deposit boxes in different banks, transferring assets to offshore accounts, overstating debt, understating income, and having income or earnings redirected to trust accounts or third parties. There is no avoiding that the more wealth a couple has, the more likely that the spouses lack full awareness of the entirety of their property interests.

It takes hard work, experience, and tenacity, but we have proven methods of searching for hidden assets. Also, we work closely with experts who can help identify, classify, locate, and appraise assets, to ensure that you don’t blindly end your marriage with money left on the table.

Seek Family Law Representation from Viloria, Oliphant, Oster & Aman L.L.P.

Resolving the division of property requires a knowledgeable and tenacious attorney. The experienced attorneys at Viloria, Oliphant, Oster & Aman, L.L.P. provide premier legal representation to people seeking an end to their marriage, including high net worth divorces. We partner with experts who can properly classify and appraise the complex property and have a track record of success. Let us help you. Call Viloria, Oliphant, Oster & Aman L.L.P. today at (775) 227-2280 to schedule an appointment or contact our office through our website.

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