Nevada is a community property state, which means that presumptively your assets and debts belong equally to you and your spouse. A legal separation is a means of remaining married but having your financial interests separated, thus obviating the community property laws.

After a legal separation order is entered by a court, you remain married but you are no longer subject to the community property rules of the state. A divorce, on the other hand, ends the marriage and also enters orders regarding the division of assets and debts, and when applicable enters orders concerning custody and visitation rights concerning the children.