In the state of Nevada, engaged, married, or cohabiting couples may enter into agreements defining their property rights, and depending upon the type of agreement, their support, and other rights and obligations according to Chapter 123A.010 – 100 of the Nevada Revised Statutes.
The Uniform Premarital Agreement Act defines a premarital agreement as, “an agreement between prospective spouses made in contemplation of marriage and to be effective upon marriage.” Under Nevada law, registering as domestic partners in the State of Nevada give you the same rights and benefits as marriage. Talking about establishing a prenuptial agreement as part of your wedding plans may seem like a negative conversation. The emotional dynamic of “negotiating the divorce while planning the wedding” can be difficult.
At Surratt Law Practice we do our best to avoid that kind of atmosphere. Instead our attitude is a precautionary one. Our role is to ensure that our clients appreciate the possibility of divorce and understand the possible financial consequences. Prenuptial agreements are a tool to address property and assets when two people care about each other. Agreements made before the relationship goes “sour” may be more reasonable. There are many beneficial aspects to prenuptial agreements. Negotiating a prenuptial agreement can bring a sense of financial and fiduciary security to the relationship and ease anxiety about the pending marriage or domestic partnership. The process and discussion can allow couples to get on the same page as far as expectations for the marriage or domestic partnership. These specific discussions may or may not have occurred otherwise and can give couples a better sense of what they are getting themselves into.
There are specific standards that a prenuptial agreement must meet to be considered enforceable in divorce proceedings. The circumstances surrounding the signing of the agreement are important factors which must be considered. In particular, circumstances which impose time pressures on a disadvantaged party have been held to invalidate the agreement. In general terms, a Prenuptial Agreement may not be upheld if it is found to be:
- Obtained through fraud;
- Obtained through misrepresentation;
- Obtained through material non-disclosure; or
- Obtained through duress.
What are some things that one can include or make provisions for in his/her prenuptial agreement? In a premarital agreement, the parties may contract according to NRS 123A.050 with respect to the following:
- Property rights;
- Management of property;
- Disposition of property upon separation or divorce;
- The modification or elimination of alimony or support or maintenance;
- The making of a will or other estate planning;
- Ownership of life insurance policies;
- The choice of law governing the agreement; and
- “Any other matter, including their personal rights and obligations, not in violation of public policy or a statute imposing criminal penalty.”