Gordon Law Offices Articles About Property and Debt Division

About Property and Debt Division

By Gordon Law Offices  Jan. 4, 2011 8:58p

One of the most complex and potentially stressful issues that must be considered and agreed upon in every divorce is the matter of deciding how the properties and debts accumulated within the marriage will be divided between the spouses. Typically, the courts would prefer that the spouses involved make these decisions themselves in as fair and agreeable a manner as possible. This is not always possible however, if communication between the divorcing spouses has deteriorated or the spouses simply cannot collaborate on an agreeable resolution for the matter.

In the event that the spouses simply cannot decide on the matter between themselves, the issue must be decided by a judge who will analyze the information about both spouses and make the decision for them. If you are involved with a divorce and are worried about your property it is vital that you contact a Las Vegas family law attorney as soon as possible in order to ensure your rights and property can be protected.

When dealing with property division there are two basic types of property. The first type of property is known as separate or single property. This type of property belongs to only one of the spouses and is usually owned or acquired before the commencement of the marriage, or is inherited or bound by legal agreements.

The second type of property is called marital or joint property. Marital property consists of all property and assets acquired during the marriage or significantly affected by the marriage. This is the property that will be divided between the spouses depending upon certain circumstances such as the state of each spouse's finances, their contributions to the marriage including financial and non-financial, child custody, child support, spousal support and any wasteful spending habits of either spouse, as well as other possible considerations.

Property and Debt Division Lawyer in Las Vegas

When you are involved in a divorce it is absolutely important that your property is properly identified as separate property, and that all of your assets are accounted for so you are treated fairly by the court. If an asset is purposefully or even accidentally hidden it could result in a penalty during the proceedings resulting in a loss of property to the other spouse. In these kinds of situations it is always necessary to have the legal guidance of an experienced family law attorney. At the Gordon Law Offices we have significant experience in handling property division matters and can assist you with your case to make sure your rights and your property are protected.

Contact a Las Vegas Property and Debt Division Attorney at our firm today if you need aggressive and effective legal representation for your divorce case!

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