This is the first post in a series of articles discussing divorces in Las Vegas, Nevada that are caused by the financial irresponsibility of a spouse. One of the most common sources of disagreements between spouses is money. Whether newly married or in a long-term relationship, learning that one’s partner has secretly incurred debt, mismanaged finances, or hidden a gambling problem can be devastating to a marriage. When the problems cannot be resolved, such issues often lead to divorce. Individuals are often surprised, however, to learn how marital debts are treated in divorce proceedings when they are left holding the bag for their partner’s poor decisions. The goal of this series is to provide information about Nevada’s laws regarding liabilities incurred during a marriage and how they may impact the outcome of one’s case. If you need assistance, contact my office to schedule a consultation with an attorney.
This series will focus on the following topics:
- 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
Contemplating a divorce for any reason can be a stressful and emotional decision. When coupled with serious financial hardship due to a spouse’s bad spending habits, the situation can become even more difficult. It is important to understand how such behaviors may impact one’s divorce settlement. First, generally speaking, assets and debts accumulated during a marriage are divided equitably between spouses. In many cases, this may include exorbitant debts incurred by one party, even if their partner was unaware of the problem. Second, credit cards, when responsibly managed, can be a useful way to finance purchases for one’s household. Unfortunately, many people fail to understand repayment terms, interest rates, or simply use credit cards to support frivolous spending habits. It is important to understand how such debt may be treated by Nevada’s community property laws during a divorce. Third, gambling addictions or overspending can wipe out a couple’s savings or worse. This is a serious problem that may significantly impact the outcome of one’s divorce. Finally, considering the long-term potential consequences that a spouse’s habits may have on one’s finances, it may be necessary to react quickly in filing for divorce. While every situation is different, understanding the implications on one’s future finances may influence the decision to take action.
An experienced attorney can help you understand how Nevada’s rules may impact your divorce case. I have been representing Las Vegas residents since 2006 and have helped many clients through the divorce process. If you need assistance, contact my office today to speak with a lawyer.