Marital agreements are contracts that outline how marital assets and debts will be divided if a marriage ends. A pre-nuptial agreement is created prior to the date of marriage and becomes effective on the date of the marriage. A post-nuptial agreement is prepared and executed after you are already married.

There are differences between what terms may be included in a pre-nuptial agreement and a post-nuptial agreement. A post-nuptial agreement is more limited in scope. For example, alimony cannot be waived or determined in a post-nuptial agreement. Conversely, the duration and amount of alimony may be included in a pre-nuptial agreement.

In Nevada, community property laws determine the ownership of all assets acquired during a marriage. Without a pre-marital or post-nuptial agreement, assets and debts will be equally divided between the spouses upon divorce. However, the existence of a marital agreement allows parties to override community property laws and decide how they want their property and debts to be divided, so long as the agreement is not unconscionable. As a result, a valid pre-marital agreement or post-nuptial agreement can help prevent a lengthy and stressful divorce due to the fact that the parties have already agreed upon how their assets and debts will be divided.

Common Misconceptions About Pre-Marital and Post-Nuptial Agreements

1. “Pre-nuptial and post-nuptial agreements are only for the wealthy”: One common misconception is that marital agreements are only necessary for couples with significant assets. In reality, marital agreements can be beneficial for couples of various financial backgrounds, as they provide clarity and protection for both parties.
2. “Pre-nuptial and post-nuptial agreements are only for couples who don’t trust each other”: Another misconception is that marital agreements signify a lack of trust between partners. However, marital agreements can actually foster open communication and trust by allowing couples to discuss and establish expectations regarding financial matters.
3. “Pre-nuptial and post-nuptial agreements are unromantic and can harm the relationship”: Some may believe that discussing a marital agreement before or during a marriage can dampen the romance or even lead to relationship issues. However, when approached with open and honest communication, marital agreements can actually strengthen a relationship by addressing potential conflicts and ensuring that both parties feel secure.
4. “Pre-nuptial and post-nuptial agreements are not enforceable in Nevada”: There is a misconception that marital agreements are not legally binding in Nevada. However, so long as certain legal requirements are met, such as full disclosure of assets and a voluntary agreement, marital agreements are generally enforceable in Nevada.
5. “Pre-nuptial and post-nuptial agreements are one-sided and favor the wealthier spouse”: It is often assumed that marital agreements heavily favor the wealthier spouse, leaving the other spouse at a disadvantage. However, marital agreements can be tailored to address the specific needs and concerns of both parties, ensuring fairness and protection for both individuals.

Have Questions? Call Our Firm Today!

No one wants to anticipate a divorce. However, if your marriage does end, a marital agreement can make the divorce less complicated, since the division of assets and debts have already been negotiated and agreed upon by both parties. It is important to note that specific legal advice should be sought from a qualified attorney in Nevada when considering or creating a marital agreement. At Law Practice, Ltd., we will guide you through this process.