In Nevada Alimony Law, there are four types of divorce settlement.
The first type is the settlement that is given and duly paid to the spouse in need of support as the divorce process is going on, way before the final judgment is granted. This type of divorce settlement is called “Temporary maintenance.”
This type of divorce settlement is the only type where money is paid to support a spouse before divorce is entirely done.
The second type is known as “Rehabilitative settlement.” Here, the spouse in need of support is financially backed by the other spouse to get training or the education required to land a job after divorce.
This comes into play in cases where the supported spouse, was a full live-in partner during the marriage, as it enables the spouse to become financially independent after a while after the divorce has been finalized.
The money paid via this settlement can be used to pay for textbooks, journals, tests or expenses incurred by the spouse during job searches.
The third type is known as “Temporary settlement.” It is similar to “Temporary maintenance” except for one major difference. The difference is that in the case of “Temporary maintenance”; money is paid during the divorce process while in “Temporary settlement,” the money is paid after the full divorce process has taken place.
The money paid in this type of divorce settlement is paid for sometime after the divorce has been finalized upon the directive of the presiding judge.
The final and fourth type of divorce settlement is the Permanent Settlement. Here, the spouse in need of financial support is given full backing by the paying spouse indefinitely.
The financial payments in this type of divorce settlement stop when the supported spouse remarries or if either one of the spouses passes on.
How Is The Settlement Calculated?
The law statues concerning divorce settlement in Nevada do not give a specific amount of how much should be paid. All it says is that the settlement to be paid should be “just and equitable” and that divorce courts should make sure the assets are divided up equally in less they are genuine, concrete reasons to share them unequally between the divorcing spouses.
The Appeal courts in Nevada themselves have differently interpreted the statues with regards to divorce cases, making the divorce law courts to be in a state of confusion when it comes to decisions on whether the settlement should be paid or not, or even the amount to be paid.
A formula was put forward in 1997 by the Family Law sect of the Nevada Bar Association, which they called the “Tonopah Formula.”
This formula makes use of the various factors that were commonly used by deciding judges in matters of divorce. The parameters used to calculate the amount of divorce settlement to be paid were based on financial incomes, assets owned and debts.
How Is The Amount To Be Paid Decided To Be Fair By Nevada Courts?
The Alimony statue of Nevada requires divorce courts before deciding on whether to award divorce settlements and the amount to satisfy the following factors:
- The individual financial state of each spouse
- The property of each spouse has in terms of the nature and value of the property
- The contributions financially made by each spouse to the property owned by them during the marriage, under Nevada property laws.
- Marriage tenure
- Each spouse financial income and earning capabilities, health status and age.
- The living standards during the marriage
- Educational levels attained by each spouse during the marriage
- Homemaking contributions of either spouse
- The physical and mental status of both spouses.
- Property awarded by the court to the supported spouse.