This is the final post in a series of articles discussing divorces in Las Vegas, Nevada that are caused by the financial irresponsibility of a spouse. My previous post addressed the need for prompt action once a spouse’s money problems are identified. In extreme cases, initiating divorce, annulment, or separate maintenance proceedings quickly may be the only way to protect oneself from further financial harm. Consulting with an attorney who specializes in family law can help you understand your options. The objectives of this series have been to provide general information about Nevada’s laws regarding how the Court will assign responsibility for significant debts incurred during a marriage. Our state’s community property laws often require spouses to share equally in marital debt, which may expose one spouse to liability for the other’s financial irresponsibility. It is important to understand these issues and how they may impact your case. If you need assistance, contact my office today to speak with a lawyer.
The following topics were discussed in this series:
- How Nevada’s community property laws impact divorce proceedings
- The impact of community property laws on one spouse’s credit card debt
- How a spouse’s gambling problem may impact a divorce ruling
- Seeking a divorce quickly, once poor financial habits are identified
I felt it was important to address these subjects for several reasons. First, Nevada law generally requires the equitable division of marital assets and debts between divorcing spouses. Absent extenuating circumstances, spouses are equally responsible for debts incurred by one spouse even when created without the other spouse’s knowledge. Second, credit card spending can quickly get out of control, particularly for individuals who are financially irresponsible. As stated previously, it is not uncommon for the Court to hold both spouses equally liable for such debts in a divorce. Third, gambling can be a fun, and sometimes lucrative, pastime. Unfortunately, many people learn the hard way that overindulging can lead to significant debt or addictive gambling with disastrous consequences. It is important to understand how the Court may view gambling debt during a divorce. Last, in extreme cases, ending one’s marriage quickly after learning about irresponsible financial behavior may be the only way to reduce one’s potential exposure to liability. In each case, an experienced divorce attorney can help evaluate your situation and explain your options.
Having disagreements with one’s spouse over money-related issues is not uncommon. When such matters become serious, involving deceit, reckless behavior, or threaten financial ruin, it may be time to seek legal advice. My office is ready to assist you. Contact us today to speak with a Las Vegas lawyer.
