How to Protect Your Assets in a Nevada Divorce
Divorce brings emotional and financial challenges. One of your biggest concerns may be how to protect your assets in a divorce. Although your options may be limited, strategies to protect assets can include court orders, determinations of value, and identifying what property belongs to whom. Protecting what you have worked to build usually requires professional legal guidance to understand your rights and options under Nevada law.
At Mills & Anderson, we know how important financial security is during divorce. With over 70 years of combined experience, our attorneys bring honesty, integrity, and relentless advocacy to every case. We serve clients in Las Vegas, Henderson, North Las Vegas, and across Clark County, offering aggressive yet ethical counsel in divorce, including high-net-worth cases involving complex assets. Contact us today online or call (702) 386-0030 to schedule a consultation.
Nevada Law on Property Division in Divorce
Understanding Nevada law on property division is key to protecting your assets in divorce. When a couple divorces, they must disclose every piece of property that they own to each other. Then, the court determines which property the couple must divide by classifying it as separate or community property.
Classifying Property
In Nevada, most assets and debts acquired by either spouse during marriage belong to both spouses equally. That property is community (marital) property, which spouses divide upon divorce.
Spouses need not divide separate property, which usually includes:
- Property owned before marriage,
- Inheritances received by one spouse alone,
- Gifts given specifically to one spouse, and
- Assets covered by a valid prenuptial or postnuptial agreement.
Problems arise when spouses commingle separate property, which means spouses mix it with marital property. For example, depositing your inheritance into a joint bank account may make it subject to division. To understand how to protect yourself financially in a divorce, you should know which assets a court would consider separate and community.
Dividing Property
Nevada law directs judges to divide community property equally unless compelling reasons support an unequal distribution. Compelling reasons can mean that fairness demands an unequal distribution, such as when one spouse deliberately hides assets or wastes shared funds on addictions or an affair.
Court-Ordered Injunctions
Injunctions are court orders requiring someone to do or refrain from doing something. Nevada courts automatically issue certain injunctions upon request when you file for divorce, including injunctions forbidding either spouse from:
- Selling, hiding, or transferring community property without the other spouse’s consent or a court order;
- Canceling, modifying, or allowing insurance coverage such as health, auto, or life insurance to lapse; and
- Harassing, threatening, or interfering with the other spouse’s property rights.
These injunctions remain in place throughout the divorce unless the court modifies or lifts them. Protecting your assets means not violating these orders, which can result in contempt of court or the court awarding a greater share of assets to the other spouse.
How to Protect Assets from Divorce Before Divorce
Taking proactive steps to protect assets before you officially begin the divorce process can reduce disputes and preserve your separate property if you and your spouse eventually decide to move forward with the divorce. When considering how to protect your assets from your partner before divorce, think about:
- Creating a postnuptial (marital) agreement, the equivalent of a prenuptial agreement for a couple that is already married, outlining how to divide property upon divorce;
- Keeping separate property separate (not commingling) and avoiding using separate property for joint expenses when possible;
- Maintaining detailed records like bank statements, deeds, and titles proving ownership, and keeping them in a safe location; and
- Structuring asset ownership to explicitly name whether you and your spouse are or are not joint owners.
How to Protect Yourself Financially in a Divorce
Protecting assets from a spouse after you have already started the divorce process can be more complicated. Yet, there are still ways to protect yourself financially.
Request Additional Injunctions
If the court’s automatic injunctions do not provide enough protection, you can request additional orders covering:
- Exclusive use of the marital home to restrict spouses from being able to damage one another’s property;
- Ensuring the spouse who remains in the marital home keeps up with maintenance and bills;
- Restrictions on spending, such as limits on using credit cards or joint accounts; or
- Orders to preserve specific assets, like freezing investment accounts or business interests until division.
These court orders limit your spouse’s ability to harm you financially during the divorce process.
Monitor for Hidden Assets
If you suspect your spouse is hiding separate or community property, your attorney can help you uncover the truth. The investigation may involve hiring a forensic accountant to locate assets. Your attorney can also help you use tools available during the discovery process, like subpoenas, which order your spouse to provide specific documents.
Trace Separate Property
To prove that separate property is yours alone, you can trace that property back to when you obtained ownership. That may mean locating receipts, account records, or closing documents that indicate certain assets belong only to you.
Obtain Appraisals
You can hire appraisers to determine the fair value of your assets. Appraisals protect assets by preventing one spouse from undervaluing or overvaluing property to argue they should receive more. With reliable numbers, you can make smarter choices about whether to keep, sell, or trade assets.
Protecting Your Future with Mills & Anderson
Protecting your assets in a divorce is about more than property. It is about your financial stability and peace of mind. At Mills & Anderson, our attorneys are committed to guiding you through this difficult process with integrity and skill. We handle cases personally, bringing over seven decades of combined experience to divorce and asset division matters in Las Vegas, Henderson, North Las Vegas, and throughout Clark County.
If you need clear answers about how to protect your assets in a divorce and want a law firm that fights relentlessly for you, contact us today online or call (702) 386-0030 to schedule a consultation.
