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Prenuptial Agreements

Nevada Prenupital Agreements (PMA)

Definition

Nevada has adopted the Uniform Premarital Agreement Act   NRS 123A.010 which states that a “Premarital agreement” means an agreement between prospective spouses made in contemplation of marriage and to be effective upon marriage   “Property” means an interest, present or future, legal or equitable, vested or contingent, in real or personal property, including income and earnings.

Fairness

It is essential in drafting prenuptial agreements to remember that the parties owe each other a fiduciary duty and a responsibility to act with good faith and fairness to the other   This includes a full disclosure of finances   Fick v. Fick, 109 Nev. 458, 851 P.2d 445,(Nev. 1993 .

In the case of Sogg v. Sog , 108 Nev. 308 (1992), the Court determined that the premarital agreement wa   unenforceable because it left the wife with no maintenance   The Court examined the following factors:

  1. The wife did not have the opportunity to view the document before the marriage;
  2. The wife did not have independent counsel to review the agreement;
  3. The husband failed to give the wife a full financial disclosure of his assets which were valued at approximately $20 million dollars; and
  4. The wife did not have sufficient business experience. 

Generally, any PMA which forces one spouse to receive public assistance after divorce will be void in Nevada. 

Enforceability

Many of these Sogg factors are now codified in NRS 123A.080, which lists the following factors in determining whether the PMA in enforceable:

1.  A premarital agreement is not enforceable if the party against whom enforcement is sought proves that:

(a)  That party did not execute the agreement voluntarily;

(b)  The agreement was unconscionable when it was executed; or

(c)  Before execution of the agreement, that party:

(1)  Was not provided a fair and reasonable disclosure of the property or financial obligations of the other party;

(2)  Did not voluntarily and expressly waive, in writing, any right to disclosure of the property or financial obligations of the other party beyond the disclosure provided; and

(3)  Did not have, or reasonably could not have had, an adequate knowledge of the property or financial obligations of the other party.

2.  If a provision of a premarital agreement modifies or eliminates alimony or support or maintenance of a spouse, and that modification or elimination causes one party to the agreement to be eligible for support under a program of public assistance at the time of separation or marital dissolution, a court, notwithstanding the terms of the agreement, may require the other party to provide support to the extent necessary to avoid that eligibility.

3.  An issue of unconscionability of a premarital agreement shall be decided by the court as a matter of law.

Effect of Void Marriages

If an marriage is determined to be void (one party was already married, fraud, misrepresentation etc.) then the PMA is enforceable to the extent necessary to avoid an inequitable result.

Child Support

In Nevada, a PMA cannot affect child support   NRS 123A.050   Similarly, waivers of visitation and custody of children may also be unenforceable. 

No-Contest Clauses

No-contest clauses contain penalties if someone unsuccessfully challenges the terms of a contract   Nevada law allows for no contest clauses in PMAs so long as they are not unconscionable.

How I Can Help

  1. Drafting a PMA;
  2. Representing the party who is asked to sign the agreement;
  3. Modifying existing agreements; and
  4. Pursuing claims/litigating existing agreements.

It is absolutely essential that you have a skilled attorney helping you with these matters   Please call me with your questions and concerns (702) 940-1234. 

Contact Us

The right attorney can give you freedom by making your agreements and contracts work for you so you can concentrate on everything else in your life that is important. You deserve an experienced attorney to protect you and your assets. Call us now to start getting peace of mind.

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