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21 Cards in this Set
- Front
- Back
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What is considered SP?
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1) Property owned by either spouse before marriage
2) Property acquired by gift, will, or inheritance 3) Property acquired with expenditure of separate funds (established by "tracing") 4) Spouses can agree (in premarital or marital agreement) that property shall be separate. 5) Income from separate property ("the rents, issues, and profits thereof) 6) Tort recovery for personal injury (but if spouses sue jointly, not award that pays for medical expenses or lost wages) |
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What is considered CP?
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Property, other than separate property, acquired by either spouse during marriage (salary, wages, income from community asset)
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What is the community presumption?
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All assets acquired during marriage belong to the community.
All assets acquired on credit are presumptively on community credit. |
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What is the burden of proof to prove a particular asset is SP?
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Clear and convincing evidence
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Loss of consortium award to one spouse. SP or CP?
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SP
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Income to child. CP or SP?
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CP unless relinquished to the child.
If parents are separated, then income to whichever spouse has custody of child whether formal or informal custody. |
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When will Nevada recognize a common law marriage?
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Where it was validly contracted in another state that allows CL marriage -- Nevada does not.
It doesn't matter how they hold themselves out. If they acquire property together they hold it as TinC. |
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What is age of marriage?
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18.
If 16-18 can marry with consent of one parent. If under 16, consent of one parent and consent of district court upon finding of "extraordinary circumstances" and the marriage will serve the child's best interest. - Pregnancy does not satisfy the best interest test. |
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When does the marital community end?
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On the date the divorce if FINALIZED.
It's all about when the money is earned (when labor took place; i.e. royalties and copyrights acquired during marriage) not when it is received. |
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How must assets be divided? And when may the judge stray from this?
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Absent a couple's agreement, all assets must be divided 50-50.
A judge may make an unequal division when there is a compelling reason. Only with respect to alimony do we consider the difference in earning potential. |
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Are non-pro rata division of individual assets allowable?
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Yes -- if each gets 1/2 value of the total value of the community
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Can court make a distribution of either party's separate property?
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Nope -- Court cannot divest title.
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Can court equalize SS benefits in the divorce decree even if the spouses agree to an equal division?
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No. Federal preemption. Doesn't matter what the parties agree.
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Can court take into account tax consequences?
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No -- unless the taxable event has already occurred or is certain to occur.
Future events are too speculative. |
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What constitutes a "compelling reason" to justify an unequal division of the community estate?
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When there is financial misconduct that will affect the community. (Transferring money to relative to avoid division in the estate).
Abusive relationship is not compelling unless it affects ability to earn. An affair is not compelling. |
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How is alimony to be divided?
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Justly and equitably.
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What are two kinds of alimony?
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1) A to satisfy demands of justice and equity
2) A to rehabilitate training or education related to a job, career, or profession |
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How do you determine what is just and equitable?
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Factors:
- wife's career prior to marriage - length of marriage - husband's education during marriage - wife's marketability - wife' ability to support herself - whether the wife stayed home with the children - the wife's award, beside child support and alimony |
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How does court determine whether to award rehabilitative alimony?
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1) Whether other spouse obtained greater job skills or an education during the marriage
2) Whether the spouse provided financial support for the other spouse's obtaining job skills or an education 3) Such other factors as the court deems necessary |
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What if spouse gives CP away without other spouse's knowledge?
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The gift can be set aside in its entirety. Neither spouse can make a gift of CP w/o other spouse's express or implied consent.
IF gift took place before spouses death but then spouse died and then other spouse found out. Gift set aside out of S's estate or donee. Same result if CP life insurance policy names a third party as beneficiary. A totten trust is different because there is a power to revoke until death. TT same as a testamentary disposition. |
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How are funds borrowed and goods purchased on credit during marriage considered?
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Presumptively on community credit.
BUT-- borrowed funds and credit purchases are controlled by the PRIMARY INTENT of the LENDER |
