After a lifetime of building a strong legacy, you deserve to keep the fruits of your labor. However, a divorce poses a threat to your assets, especially since Nevada is a community property state. A prenuptial agreement can be a defense against this mandate, but in a high-stakes divorce, a poorly drafted document puts you and your properties at risk.
Prenup guidelines under Nevada law
The Uniform Premarital Agreements Act (UPAA) serves as a baseline for couples who wish to have a prenup. You can use this to define separate and community property, alimony terms and other concerns about death benefits.
However, it is important to note that the UPAA does not allow any provision that violates the fundamental rights of each spouse. This means you must not include terms that waive or limit child support, promote divorce or leave a spouse on welfare.
Factors that invalidate a prenup
While a prenup can be a tool to protect your assets, it is not infallible. Here are three factors that can make this agreement unenforceable:
- Unconscionable: The prenup is grossly unfair or one-sided at the time of its signing.
- Involuntary execution: Either party claims that they signed the document due to coercion or extreme duress before marriage.
- Lack of financial disclosure: Both parties failed to provide a fair and reasonable disclosure of their assets and liabilities.
A spouse can challenge the prenup’s validity, but they have the burden of demonstrating why it is unenforceable.
Taking prompt action to protect your legacy
Receiving divorce papers can leave you blindsided. Your offshore accounts, high-value collectibles and hard-earned assets are on the line. To determine whether your prenup follows the standards in UPAA, seeking legal counsel is wise.
