How Divorce Affects Your Career and Professional License in Nevada
Professional licenses — law licenses, medical licenses, real estate licenses, nursing licenses, and other regulated professional credentials — present unique issues in Nevada divorce that many clients do not anticipate. Hauser Family Law’s Michelle Hauser addresses career and professional practice issues as part of a comprehensive divorce strategy.
IS A PROFESSIONAL LICENSE PROPERTY IN A NEVADA DIVORCE?
A professional license itself — the credential — is generally not divisible as marital property in Nevada because it is personal to the licensee and cannot be transferred. However the income-generating capacity of a professional practice built during the marriage and the value of a professional practice entity are treated very differently and may be community property subject to division.
THE VALUE OF A PROFESSIONAL PRACTICE IN NEVADA DIVORCE
When one spouse operates a professional practice — a medical practice, law firm, dental practice, accounting firm, or other professional business — the value of that practice is a contested issue in many high-asset Nevada divorces. The practice may have been built entirely during the marriage using marital efforts and marital funds — in which case its entire value may be community property. Even a practice started before marriage may have a community property component representing the growth in value attributable to marital efforts.
EARNING CAPACITY AND SPOUSAL SUPPORT
When one spouse put their career on hold or limited their professional development to support the other spouse’s career or to care for children, that sacrifice affects the spousal support analysis. Nevada courts consider the earning capacity of each spouse and the extent to which one spouse’s earning capacity was diminished by career choices made for the benefit of the marriage when determining spousal support awards.
PROTECTING YOUR PROFESSIONAL PRACTICE IN A NEVADA DIVORCE
Hauser Family Law works with business valuation experts and forensic accountants to ensure your professional practice is valued correctly and that the community property analysis is applied accurately. We develop strategies to protect your practice while ensuring the overall property division is fair. Learn more about Nevada community property law at leg.state.nv.us.
Contact Hauser Family Law: hauserfamilylaw.com
Divorce attorney Henderson: hauserfamilylaw.com/divorce-attorney-henderson-nv
Call (702) 867-8313. Free consultation.