Divorce is a challenging experience, but it also significantly impacts inheritance rights. Estate planning is essential to ensure that your assets are distributed according to your wishes in the event of death or incapacity. However, if you are going through a divorce or have already divorced, you may need to learn how it affects your inheritance rights in Nevada. This blog post will discuss how divorce affects inheritance rights in Nevada and how you can protect your assets and loved ones.
1. Community Property vs. Separate Property
Nevada is a community property state, meaning marital assets are divided equally in a divorce. In contrast, the separate property belongs to one spouse, and it is not subject to division. This includes assets that were acquired before marriage, inheritances, and gifts.
Therefore, if you received an inheritance before your marriage, it is likely your separate property, and your ex-spouse has no claim. However, if you comingled your inheritance with marital assets or used it to acquire marital property, it may become community property and subject to division in a divorce.
2. Intestate Succession
If you die without a will or trust, your estate will be distributed according to Nevada’s intestate succession laws. In most cases, the surviving spouse is entitled to the entire estate if there are no children or other descendants. However, if you have children from a previous relationship or with another partner, they may also have a claim to your estate.
Additionally, if you have minor children, their share of the estate will be distributed to a guardian until they reach adulthood. Therefore, having a will or trust that reflects your wishes and protects your loved ones is crucial.
3. Testamentary vs. Inter Vivos Gifts
A testamentary gift is made in a will or trust, while an inter vivos gift is made during the giver’s lifetime. In Nevada, if you made a testamentary gift to your ex-spouse, it becomes void upon divorce unless the will or trust specifies otherwise.
However, if you made an inter vivos gift to your ex-spouse during your marriage, it is likely a good gift and cannot be revoked. Therefore, reviewing your estate plan after a divorce and updating it accordingly to avoid unintended consequences is essential.
4. Elective Share
In Nevada, a surviving spouse is entitled to an elective share of the deceased spouse’s estate, regardless of whether they are named in the will or trust. The elective share is equal to 50% of the community property and a percentage of the separate property, depending on the marriage’s duration.
Therefore, if you are getting divorced or have divorced, it is essential to consult an experienced estate planning attorney to determine what assets are subject to the elective share and how to protect your beneficiaries from unexpected challenges.
5. Pre-Nuptial and Post-Nuptial Agreements
Pre-nuptial and post-nuptial agreements are legal documents that establish the rights and obligations of spouses in the event of a divorce or death. These agreements can include inheritance rights, property division, spousal support, and more provisions. Therefore, if you are getting married, remarried, or divorced, consider a pre-or post-nuptial agreement to protect your assets and clarify your intentions.
Final Thoughts
Divorce is a challenging process that affects many aspects of your life, including your inheritance rights. In Nevada, it is essential to understand the legal implications of a divorce on your estate plan and make the necessary changes to protect your loved ones and assets. By consulting with an experienced estate planning lawyer, you can ensure that your estate plan reflects your current wishes and preserves your legacy for future generations. Don’t wait until it’s too late – start planning today.
Bourassa Law Group has a team of expert estate planning attorneys specializing in Nevada estate cases. We can help you with estate planning and develop a case with strong reasons for disinheritance.
Call us at (800)870-8910 to talk to one of our lawyers.
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