What are Your Rights & Responsibilities In A Prenuptial Agreement?
More and more couples are executing prenuptial agreements, also called prenups or premarital agreements, before they get married. It may seem easy, but in reality a prenup can be quite complex, and it is easy to include items that cannot legally be included. It is highly recommended to be aware of both the rights and responsibilities that a prenup confers before you draft or sign it.
The Positives Of A Prenup
Perhaps the most important thing to know about a Nevada prenup is that if executed properly, it can supersede Nevada’s community property laws, at least to a degree. Assets can explicitly be separated from community property by a prenup – in other words, if you articulate your intent to keep a certain asset separate in your prenup, it will likely be honored by a court during any later divorce proceedings.
In an indirect way, a prenuptial agreement can also help your relationship – this may seem unlikely, however, a prenup is not enforceable unless it has been signed after a “fair and reasonable disclosure” of both parties’ finances. Such openness puts both spouses on the same proverbial footing, and can actually help foster more honesty and trust between the soon-to-be spouses.
Responsibilities Of Both Parties
While prenuptial agreements can save a lot of time in a later divorce proceeding and settle potentially thorny issues, you must also contribute what is asked of you in order for the prenup to be enforceable. You must provide that “fair and reasonable disclosure” to your partner, because if you do not, no contract can exist (and a prenup is a contract).
You also must be aware of what can and cannot be included in a prenup. Nevada law mirrors many other states’, as its laws are based on the Uniform Premarital Agreement Act. The law explicitly sets out what can be contracted and what cannot. For example, a prenup in Nevada would preclude any provision that addresses future child support.
Contact A Las Vegas Prenuptial Agreement Attorney Today
Valid and enforceable prenuptial agreements are much more difficult than they may appear to be. It is always a good idea to consult an attorney when drafting or reviewing one. The Kainen Law Group has been handling prenuptial agreements in Nevada for many years, and we are happy to share our experiences with you. Contact our Las Vegas family lawyers today to schedule an appointment.
Resources:
leg.state.nv.us/NRS/NRS-123A.html#NRS123ASec050
leg.state.nv.us/NRS/NRS-123A.html#NRS123ASec080
