This is the next post in my series on why prenuptial agreements may be invalidated in a Nevada divorce. My last post discussed why Nevada Courts may invalidate a premarital agreement if both parties did not have separate counsel review the contract. In this article I will be discussing how an otherwise valid agreement may become invalid by “co-mingling” separate property during the marriage.
Co-mingling of property creates community ownership issues during a Nevada divorce
A reason why couples may choose to get a premarital agreement is one spouse’s having assets, a business, or property which that spouses wishes to keep separate. This can be done through a prenuptial agreement and in the event of a divorce that spouse should be able to retain their assets. However, the portion of a prenuptial agreement that designates property as separate may be invalidated if the specific asset is “co-mingled” with property of the other spouse. “Co-mingling” occurs when separate property is mixed with property belonging to your significant other. An example of this would be if you have a sole and separate bank account but you then deposit your spouse’s weekly paychecks and pay community bills from the account. This can lead to the entire account being considered marital property.
Many spouses going through a Las Vegas divorce are surprised to find out that property, which they thought was separate, may have to be divided with their spouse. In order to avoid such problems, you should retain a lawyer to draft your prenuptial agreement. An attorney will explain to you the ways in which property can become co-mingled and will help you set up safeguards to ensure that you do not find yourself in this situation.
Las Vegas couples should specify how property will be kept separate in a premarital agreement
Couples should specify in their prenuptial agreement how they plan to keep property separate. The agreement can spell out that the parties will maintain separate bank accounts. Also, it can be agreed upon that each person will pay for repairs and upgrades to personal property by using personal money.This same types of understandings can be included in regards to business profits, retirement accounts, etc. Setting up a plan, and sticking to it, is the best way to ensure that you do not have problems with your premarital agreement.
If you are planning to get married in Nevada and are worried about the validity of your premarital agreement then it is important to understand all issues prior to marriage. Contact Las Vegas family law attorney Amber Robinson today to set up an initial consultation.