Dealing with Money Problems Before a Divorce in Nevada
What to Do When Your Spouse is Spending Too Much Before You Split Up
When you’re about to get a divorce in Nevada, and you see that your spouse is spending a lot of your money, it can be stressful.
Money is essential, and you want to ensure enough is left for important things like caring for your family and paying bills.
Talk to Your Spouse
The first step is to try talking to your spouse. Sometimes, they might not realize how much they’re spending. Be calm and tell them why you’re worried. It can be a complicated conversation, but it’s an important one.
Keep Track of the Spending
Next, you should start writing down all the money that gets spent. This is called keeping track of your finances. You can write it in a notebook or use a computer program. This helps you see where the money is going and can be used later when you talk to a lawyer.
Understand Nevada's Rules
The money you and your spouse have while you’re married is usually shared in Nevada. That means you should have a say in how it’s spent. If your spouse is spending too much, it could be a problem for both of you.
Set Some Limits
Suppose you can try to agree on some rules for spending money. This might mean setting up a budget or deciding on an amount that’s okay to spend without asking the other person.
Get Professional Help
Sometimes, you might need extra help. This is when a lawyer can come in. A lawyer can tell you about your rights and what you can do to keep your money safe. They can also help you plan for your finances during the divorce process.
If you’re worried about how much money your spouse is spending, you should take action to protect your money. This could mean separating your bank accounts or talking to your bank about how to keep your money safe.
Think About the Kids
If you have children, ensuring they have what they need is essential. No matter what’s happening with your money, try to keep their lives as normal as possible.
Be Ready for the Future
Lastly, remember that divorce is a significant change. Start thinking about how you’ll manage money by yourself. This might mean learning about budgets or saving more than before.
Breaking It All Down for You
Dealing with a spouse who is spending too much money before a divorce is tough, but there are steps you can take to handle the situation. Talk to them, keep an eye on the spending, and get help from a lawyer if needed. This way, you can protect your future and ensure you’re ready for the next chapter of your life.
Frequently Asked Questions
Can I legally stop my spouse from spending our money?
You may not be able to completely stop your spouse from spending money, but you can take legal steps to protect your assets. Consulting with a lawyer can provide options such as filing for a temporary order to prevent your spouse from wasting marital assets.
What should I do if my spouse has already spent much of our money?
If your spouse has spent significant money, it’s essential to document all expenditures and speak with a lawyer. They can help you recover some of the assets during the divorce settlement.
How can I ensure my spouse doesn’t take on more debt in my name?
You should monitor your credit report and consider freezing your credit or closing joint accounts. This prevents new debts from being accrued in your name without your consent.
What if my spouse refuses to follow the budget we agreed upon?
If your spouse doesn’t stick to the agreed budget, keep records of all violations and consult your lawyer. This information may impact the divorce proceedings’ division of assets and debts.
Will our debts be split equally in the divorce?
In Nevada, debts acquired during the marriage are generally considered joint debt and are typically divided equally. However, the court will look at several factors, and the specifics of your case may result in a different arrangement.
How can I protect my children’s savings from being spent?
Ensure that any savings accounts set up for your children are in their names with you as the custodian. You should also speak to a financial advisor or lawyer about protecting these funds.
What happens to our joint bank accounts during the divorce process?
Dividing the funds into joint bank accounts is common during a divorce. However, to prevent further misuse of these funds, you may need to work with your lawyer to address this issue promptly with the court.
Can I change the beneficiaries on my insurance policies before the divorce is final?
You might be able to change beneficiaries on insurance policies. Still, it’s wise to consult with a lawyer before making any changes to ensure you are not violating pre-divorce stipulations or automatic temporary restraining orders that often go into place when a divorce is filed.
Should I keep using our joint credit cards during the divorce process?
It’s generally recommended to stop using joint credit cards to avoid further complicating the debt division. Please discuss this with your lawyer, as they can provide advice tailored to your situation.
How can I prepare financially for life after divorce?
Start by creating a budget based on your expected income and expenses post-divorce. You should also begin establishing credit in your name if you haven’t done so already and saving money for any immediate post-divorce needs.
What if my spouse is hiding assets or money?
If you suspect your spouse is hiding assets, inform your lawyer immediately. They can hire a forensic accountant to uncover hidden assets or funds essential for ensuring a fair division during the divorce.
Assets: Things you own that have value, like houses, cars, bank accounts, and stocks. In a divorce, assets are divided between both people.
Budget: A plan that shows how much money you make and how much you spend. Budgets help you control your spending.
Credit Report: A record showing your history of borrowing and paying money back. During a divorce, you must ensure no one borrows money in your name without knowing.
Debt: Money you owe someone else, like loans or credit card bills. In Nevada, debts from marriage are usually split between spouses when they get divorced.
Division of Assets: The way your things of value are divided between you and your spouse when you get a divorce.
Financial Advisor: A professional who helps you manage your money, including saving and investing. They can help you plan for your financial future after divorce.
Forensic Accountant: A particular type of accountant who can find hidden assets or money, which can be important in a divorce if one spouse is not being honest about what they own.
Joint Accounts: Bank or credit accounts in both spouses’ names. These often need to be dealt with carefully during a divorce.
Marital Assets: Everything that you and your spouse own together while you’re married. In a divorce, these assets are divided.
Temporary Order: A judge’s decision only lasts for a short time. For example, a temporary order might stop your spouse from spending too much money until the divorce is finished.
Beneficiaries: People or organizations you name to get benefits, like money from a life insurance policy or retirement account, after you pass away.
Custodian: An adult who manages a child’s money or property until the child is old enough to take over.
Division of Debt: Similar to the division of assets, this refers to how the money owed is split between the spouses during a divorce.
Freeze Credit: An action you can take to stop companies from being able to look at your credit report, which also stops new credit accounts from being opened in your name.
Spousal Consent: When one spouse agrees to a financial decision or action the other wants. This is sometimes necessary for financial activities during a marriage.
Settlement: An agreement between spouses during a divorce that resolves issues like asset and debt division, often without a trial.
Mediation: A process where a neutral third party helps divorcing spouses reach an agreement on their disputes, including financial disagreements.
Remembering these terms can help you understand the financial aspects of a divorce and the actions you can take to protect yourself and your future.
Additional Resources for You
Our lead attorney, Molly Rosenblum Allen, Esq., has meticulously developed a suite of resources designed to support and guide you during challenging times. Here’s a reminder of these valuable resources:
Las Vegas Divorce Attorney: A thorough guide providing expert legal assistance for those navigating divorce in Las Vegas. Explore More
Alimony in Nevada: Insightful information about alimony laws and expectations in Nevada. Understand Alimony
Divorce and Mortgage: Navigate the complexities of managing your mortgage during a divorce. Learn the Details
Divorce and Taxes: Important considerations and guidance on how divorce can impact your taxes. Get Informed
Health Insurance After Divorce: Understand your options and rights regarding health insurance post-divorce. Know Your Options
Divorce and Bankruptcy: A crucial resource for those dealing with the dual challenges of divorce and bankruptcy. Navigate the Complexity
Student Loan Debt Divorce: Find out how student loan debt is handled and divided in a divorce. Understand Your Debts
How Much is Alimony in Nevada?: A specific guide to understanding the factors that influence alimony in Nevada. Calculate Alimony
Divorce Attorney Fee: Information about what to expect in terms of fees when hiring a divorce attorney. Plan Your Budget
Who Gets the House in a Divorce in Nevada: Insight into how property, especially the house, is divided in a Nevada divorce. Know Your Rights
How to Not Get Screwed in a Divorce: Strategic advice to protect your interests and ensure a fair settlement in your divorce. Protect Yourself
We urge our readers to make use of these resources, created by Molly Rosenblum Allen, Esq., to navigate your legal journey with confidence and clarity.
Offsite Resources You May Find Helpful
Below are offsite resources related to divorce and family law that readers may find useful. Each resource provides a wealth of information that could be helpful to those navigating the complexities of divorce, prenuptial agreements, and related issues.
American Bar Association (ABA) – Family Law Section: The ABA’s Family Law Section offers resources, publications, and continuing legal education on family law topics, including divorce.
- DivorceNet by Nolo: DivorceNet provides articles, tools, and resources on divorce, including legal aspects, financial implications, and emotional support.
Wealthy Single Mommy with Emma Johnson: A resource for single moms that covers financial advice, career tips, and strategies for balancing work and family life post-divorce.
Institute for Divorce Financial Analysts (IDFA): The IDFA provides information and resources on the financial aspects of divorce, and a directory of certified divorce financial analysts.
These resources serve as a starting point for individuals seeking further information and support on divorce and family law matters.
A Special Message From Our Lead Attorney
Why You Might Need a Lawyer
Molly Rosenblum, Esq
Thank you for taking the time to engage with our divorce resources. We understand that this period in your life may be filled with uncertainty and challenges, and we aim to provide you with informative content that can assist you in navigating the complexities of divorce.
Each situation is unique, and personal guidance can make a significant difference in the outcome of your case. My team and I are here to support you through this process with the dedication and expertise your situation deserves.
If you feel ready to take the next step or have any specific questions about your circumstances, please do not hesitate to call us at (702) 433-2889. We are here to listen and to help you start moving forward on your path.
Molly Rosenblum, Esq.