Experience Matters: Over 160 Combined Years Of Legal Insight
Divorcing parties often asked about Social Security benefits when they are divorcing. It is important to for divorcing parties to understand the Social Security is federal law, which preempts state law. In states like Nevada, which presumes property acquired during marriage is “community property, this is not accurate with regards to Social Security. Social Security is “income” for purposes…
We are offering a relatively new legal service that may be of interest to your clients. Because of the early withdrawal penalty, retirement funds can, at times, become trapped in an under-performing 401(k). In such cases, an intra-marriage qualified domestic relations order can be used to remove the funds from the 401(k) into an IRA in the other spouse’s name. …
Divorcing later in life has unique challenges, including retirement. At what age may a divorcing party retire? Does a party want to retire for the sole purpose of not paying the other spouse alimony? Does the party plan to go back to work after the divorce? Did the parties plan on retiring at a certain age? Can the parties even…
A common and recurring theme in retirement planning is the “4 percent” rule of thumb on post-retirement spending. That rule suggests that retirees who restrict their annual expenditures to only 4% of their invested nest egg, adjusted for inflation, can ride their retirement savings for their remainder of their lives. By way of basic example, someone with $2 million in…
Almost one-half of marriages in the United States end up in divorce. It is far easier identify potential problems in a future marriage, or address the issues in a future divorce, in a prenuptial agreement, than at the time of divorce. If you and your prospective spouse cannot agree on terms in order to make each of you feel comfortable…
If you believe it is difficult negotiating the terms of a prenuptial agreement in anticipation of marriage, just think how difficult it would be during a stressful divorce. Would you start a business with someone without having a written agreement as to how the business will operate and dissolve, should that become necessary? The same reasons for having a written…
We are often asked by our clients how legal fees in connection with a divorce are treated for tax purposes. Although we do not provide tax advice, and we certainly are not tax experts, there are some general issues you should discuss with your Certified Public Accountant (“CPA”) or a tax advisor to obtain specific advice. If you do not…
Often in a divorce action, an engagement will be at dispute. Sometimes the ring is a family heirloom and the recipient does not wish to return it. An engagement ring, however, is a gift to which a condition subsequent, the fulfillment of the marriage agreement, is attached. As such, upon marriage, the ring unconditionally becomes the property of the recipient…
Recent court decisions around the nation suggest that a properly drafted prenuptial agreement will likely be enforced. Although no prenuptial agreement can possibly address every possible issue, nor can an attorney insure its enforceability, Nevada cases as well as those around the country suggested if the prenuptial agreement is properly drafted and the proper safeguards utilized, it will be enforced. …
At Pecos Law Group, we are always looking for a challenging appeal to the Nevada Appellate courts to correct mistakes and injustices created by unfair or legally incorrect Family Court Decisions. Following are the appeals we currently have in progress: Child Support The parents agreed to a split physical custody arrangement of their children where mom has primary physical…