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Lucy, Esq.
Lucy, Esq., Lawyer
Category: Family Law
Satisfied Customers: 28775
Experience:  Attorney with experience in family law.
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In an uncontested divorce where there are no assets or liabilities

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In an uncontested divorce where there are no assets or liabilities jointly held, is it necessary to list those assets and liabilities?

Lucy, Esq. :

Hi, My name is XXXXX XXXXX I'd be happy to answer your questions today.

Lucy, Esq. :

Yes, it is. First, you'll want to specifically state that there are no joint assets.

Lucy, Esq. :

Second, yes, it's important to list the assets and liabilities that each of you is responsible for.

Lucy, Esq. :

The reason for this is that, if you forget to list something, then the other party can come back and say, "Oh, wait, we wanted to divide that."

Lucy, Esq. :

This way, it's clear.

Customer :

So, for each asset section would I indicate that there are no joint assets, or mention it only once?

Lucy, Esq. :

It's better to be explicit. "There is no jointly held real estate." "There are no jointly held cars."...

Customer :

Okay, this is the basis of my concern. We have been married for 15 years, and we have very different spending habits. I am more frugal and he is a compulsive spender/gambler. I restored his credit with a joint automobile purchase, which he sold and replaced multiple times, and ended up very upside down. He later voluntarily turned the last vehicle in to the lender -- they were able to sell it, with $20K+ on the loan balance. I bought a house about 6 years back and had him sign a quit claim on it. have separate WThe reason for no joint assets is that we have very different spending habits. I am frugal and my spouse is a compulsive gambler. He has gambled away ALL of his assets and just has debt (and a small 401k plan). I am giving him $1,500 as a divorce settlement, but am concerned that

Customer :

Let me try that again. I tried to start a new paragraph.

Lucy, Esq. :

ok.

Customer :

Okay, this is the basis of my concern. We have been married for 15 years, and we have very different spending habits. I am more frugal and he is a compulsive spender/gambler. When we married, I restored his credit with a joint automobile purchase, which he sold and replaced multiple times, and ended up very upside down. He voluntarily turned the last vehicle in to the lender -- they were able to sell it, with $20K+ on the loan balance. Six years ago I bought my parent's house from the estate and had him sign a quit claim on it. He had insufficient FITW taken from his paychecks and I have covered that for most years until 2008's filing when we filed separate returns. He lost his job a year ago by failing a random urinalysis (he normally is straight -- and I did not know about his fall of this wagon). Since then he has gambled his severance pay, hocked his last (paid for) vehicle. Over the years, I have paid his shortfall in income taxes, covered his out-of-pocket medical/dental and given him move out money. At present he has only debt and a small 401k plan. I am giving him $1,500 as a divorce settlement, but am concerned that the court may not feel that this is fair.


Customer :

And, since he failed his UA, he is not receiving unemployment compensation. He plans to live with his sister and brother-in-law and wait for a job to open up there.

Lucy, Esq. :

Well, Nevada is a community property state. Any property acquired during the marriage is considered fair game to be divided in half.

Lucy, Esq. :

But, if he already signed over the house to you, and he gambled away all of his money, the judge considers that.

Customer :

In an uncontested divorce, does this go before a judge?

Lucy, Esq. :

He has to review the paperwork and sign off on it.

Lucy, Esq. :

But, if you agree to everything, he'll usually go with it.

Customer :

The only thing he does not know about that is community property, i.e. that I did not have before or receive as inheritence, is a 401K plan that I have been contributing to for almost 2 years. I have about $60K in it now.

Customer :

$60K with e/r matching.

Lucy, Esq. :

The judge could find that he is entitled to half of that account.

Lucy, Esq. :

If you don't tell him about the account, and he finds out about it later, it will look very bad for you.

Customer :

Are you typing? You have pretty well answered my questions.

Lucy, Esq. :

No, I was waiting for you to respond. Does it say I'm still typing?

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