This is the next post in my series on how Las Vegas, Nevada spouses may benefit by signing a prenuptial agreement prior to marriage. My last article provided an overview of topics which this series will be addressing. It also discussed the importance of speaking with an attorney as soon as possible if you are considering requiring a prenup before a marriage. Speaking with counsel can be highly beneficial as they can help to ensure that all issues are considered and your agreement is properly drafted. This article continues the discussion by analyzing how such an agreement can impact the economics of a marriage. If you or a family member are in need of assistance then contact my office today to speak with a family law lawyer.
Nevada prenuptial agreements can result in separate finances & a predetermined financial outcome in the event of divorce
A prenuptial agreement is a contract which two potential spouses sign prior to marriage. The terms of the agreement can generally be as broad or as narrow as the parties wish. An agreement may not, however, include provisions regarding child custody and child support (more on this below). The agreement will include a list of all assets and debts which the parties are bringing into the marriage. If the parties so wish, they may agree that all wages earned by either spouse will remain the “sole and separate property” of that spouse. The same can be true for property acquired and debt incurred. Additionally, the agreement may state whether alimony is to be paid in the event of a divorce, the amount and duration of such payments, or whether there will be no spousal support.
A prenuptial agreement does not prohibit spouses from doing what they wish with their finances during marriage. The agreement is invoked at the time of a divorce filing. By this I mean that if one spouse files for divorce and requests certain relief that is already covered by the prenuptial agreement then the other spouse may ask the Court to rule on the issue as it has already been agreed to. In other words, most of the issues in a divorce may be pre-determined if the spouses have been following the terms of the agreement. It should be noted, however, that if the parties do not follow the terms of the agreement and choose to “intermingle” their assets and debts, then those items may be considered community property or debts in the event of a divorce. This means that a prenuptial agreement may be largely ineffective if the spouses do not follow its terms.
As mentioned above, a prenuptial agreement may not contain provisions regarding child custody and child support. While one may attempt to write such provisions into an agreement, they will likely be found unenforceable by the Court. It is considered as being against public policy, and against the best interest of the child, for parents to agree what will happen to their son or daughter at some unknown time in the future. It is not difficult to imagine an example where a prenuptial agreement states that a child will go with one parent but, as time goes on, that parent develops problems which would prohibit their ability to meet the child’s needs. Depending on the circumstances, including a provision on child custody may invalidate the entire prenuptial agreement and not just the part related to children.
Contact a Las Vegas family lawyer for the drafting of a prenuptial agreement
If you are considering getting married then it is strongly suggested that one speak with an attorney before attempting to draft their own prenuptial agreement. Counsel can help to ensure that all possibilities are considered and that one understands all possible ramifications of such a contract. Counsel can also help to ensure that all necessary requirements are met and that the agreement will be enforceable should it become needed. It is not uncommon for poorly structured prenups to result in extensive litigation. Having a qualified representative can help to avoid this outcome.
I am a Las Vegas family lawyer who practices exclusively in the area of domestic relations law. I understand that this is an important time in your life. If you are in need of assistance then contact my office online or by telephone today to schedule an initial consultation. We look forward to speaking with you. My firm also assists those in the southern Nevada areas of North Las Vegas, Boulder City, Summerlin, and Henderson.