Nevada Prenuptial Premarital Agreement - Uniform Premarital Agreement Act - with Financial Statements
Sometimes there are areas of law about which Uniform Acts
are written and adopted by the various states. Premarital Agreements
is such an area of law. The NATIONAL CONFERENCE OF COMMISSIONERS ON UNIFORM
STATE LAWS adopted the final version of the Uniform Premarital Agreement
Act in 1983. Since that date, the act, as modified by the various
states, has been adopted in the following states: Arizona, Arkansas, California,
Connecticut, Delaware, District of Columbia, Hawaii, Idaho, Illinois, Indiana,
Iowa, Kansas, Maine, Montana, Nebraska, Nevada, New Jersey, New Mexico,
North Carolina, North Dakota, Oregon, Rhode Island, South Dakota, Texas,
Utah and Virginia. At the heart of the act is the provision which
provides that such an agreement is generally valid if it is in writing and sets
forth the factors to consider if the agreement is challenged.
Nevada Statutes
Short title: This chapter may
be cited as the Uniform Premarital Agreement Act. (Added to NRS by 1989,
1003) NRS 123A.010
Application and construction:
This chapter shall be applied and construed to effectuate its general purpose to make
uniform the law with respect to the subject of this chapter among states
enacting. (Added to NRS by 1989, 1003) NRS 123A.020
Definitions: As used in this chapter, unless
the context otherwise requires:
1. "Premarital
agreement" means an agreement between prospective spouses made in contemplation
of marriage and to be effective upon marriage.
2. "Property" means an interest, present or future, legal
or equitable, vested or contingent, in real or personal property, including
income and earnings. (Added to NRS by 1989, 1003) NRS 123A.030
Formalities: A premarital agreement must
be in writing and signed by both parties. It is enforceable without consideration.
(Added to NRS by 1989, 1003) NRS 123A.040
Content:
1. Parties to a premarital agreement may contract with respect to:
(a) The rights and obligations of each of the parties in any of the property of either
or both of them whenever and wherever acquired or located;
(b) The right to buy, sell, use, transfer, exchange, abandon, lease,
consume, expend, assign, create a security interest in, mortgage,
encumber, dispose of, or otherwise manage and control property;
(c) The disposition of property upon separation, marital dissolution,
death, or the occurrence or nonoccurrence of any other event;
(e) The making of a will, trust or other arrangement to carry
out the provisions of the agreement;
(h) Any other matter, including their personal rights and
obligations, not in violation of public policy or a statute imposing
a criminal penalty.
2. The right of a child to support may not be adversely
affected by a premarital agreement. (Added to NRS by 1989, 1003) NRS
123A.050
Effect of marriage: A premarital agreement
becomes effective upon marriage. (Added to NRS by 1989, 1004) NRS 123A.060
Amendment and revocation: After marriage,
a premarital agreement may be amended or revoked only by a written agreement
signed by the parties. The amended agreement or the revocation is enforceable
without consideration. (Added to NRS by 1989, 1004) NRS 123A.070
Enforcement: Generally:
1. A premarital agreement is not enforceable if the party against whom enforcement is sought
proves that:
(c) Before execution of the agreement, that 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. (Added to NRS by 1989, 1004) NRS
123A.080
Enforcement: Void marriage: If a marriage
is determined to be void, an agreement that would otherwise have been a
premarital agreement is enforceable only to the extent necessary to avoid
an inequitable result. (Added to NRS by 1989, 1004) NRS 123A.090
Limitation of actions: Any statute of limitations
applicable to an action asserting a claim for relief under a premarital
agreement is tolled during the marriage of the parties to the agreement.
However, equitable defenses limiting the time for enforcement, including
laches and estoppel, are available to either party. (Added to NRS by 1989,
1004) NRS 123A.100
Advantages of premarital agreements for both parties:
Avoiding Litigation Costs
Protecting against Fears of Family Members
Protecting Family Assets
Protecting Business Assets
Protection Against Creditors
Child Custody and Support Guidelines
Predetermined Disposition of Property
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Disclaimer: This law summary is not legal advice.
If you are not an attorney, you should consult an attorney about serious
legal matters.
