FREQUENTLY ASKED QUESTIONS REGARDING PRENUPTIAL AGREEMENTS
Prenuptial agreements may not be considered “romantic,” but ugly divorces are even less so. It is generally easier to address potential problems or issues before marriage rather than after marriage. If you and your spouse cannot agree on terms for a prenuptial agreement, what does that say about your prospective marriage? Moreover, prenuptial agreements do not just protect the wealthier party. A properly drafted prenuptial agreement may provide both parties protection under Nevada law. In sum, it is better to discuss and resolve the “tough issues” before marriage, rather than upon a possible divorce.
At the outset, you should know that no prenuptial agreement can address every possible issue that might arise in a divorce. There are, however, typical or reoccurring issues that will arise in the drafting of any premarital agreement that clients often ask:
1. Will existing property remain separate property or become community property? What about debt?
2. Will appreciation of property become separate property or community property?
3. Will earnings or other income be considered separate property or community property after marriage?
4. Will one of the parties to the marriage receive alimony, maintenance, or other compensation in the event of a divorce?
5. To what extent will inheritance rights exist upon the death of either party?
6. Do the terms of the agreement contemplate possible changes in the law, such as tax law?
7. Can a prenuptial agreement address child custody or child support?
8. If I enter into a prenuptial agreement do I have to change my estate plan?
9. During marriage can a prenuptial agreement be modified or amended?
10. After marriage do we file an individual or joint tax return?
11. Can a prenuptial agreement address how expenses will be paid during marriage?
12. What happens if either party doesn’t follow the terms of the prenuptial agreement after marriage?
The Las Vegas Family Lawyers at Pecos Law Group have extensive experience in preparing and reviewing prenuptial agreements.