Chicago Premarital Agreement Attorneys

Chicago Premarital Agreement Attorneys

Premarital agreements are becoming more and more common for a range of important reasons. There is no denying that some marriages will end in divorce, and with divorce, there are financial terms that must be resolved that tend to generate considerable stress and uncertainty in the process. A premarital agreement, which is often called a prenuptial agreement, is a contract that simply guides how these terms will be resolved if the marriage does end in divorce, which can take some of the pressure off – allowing a couple to focus on their marriage. If you are considering a premarital agreement or have been asked to sign one, don’t wait to discuss the matter with an experienced Chicago premarital agreement attorney. 

In Order For Your Agreement To Be Binding

Premarital agreements are contracts that are written and signed prior to marriage, and upon marriage, they go into effect. In this way, both parties have the time and space they need to consider the implications of the agreement and to ensure they make the right decisions for them. Illinois courts generally accept premarital agreements as legally binding when all the following are true: 

• The premarital contract is in writing and is signed by both spouses.
• Both parties had access to the financial information they needed to make an informed decision in the first place – or waived this right.
• The agreement does not favor one spouse unfairly over the other.
• Neither party was coerced into signing the agreement. Generally, the further out the contract was signed, the less likely it is that coercion will become an issue.
• Both parties are represented by legal counsel.

Finally, a premarital agreement will not be upheld if it means that one spouse will be eligible for government assistance. 

The Terms Covered

The kinds of terms that are often covered in premarital agreements – and are generally upheld by the courts – include the division of marital property and the matter of alimony, which is known as maintenance in Illinois. Each of these has the potential to become a hotly contested term of divorce, and having a premarital agreement in place can help make the path forward less rocky. Another important role that premarital agreements often play is protecting the inheritance rights of children that either spouse had prior to the marriage in question. 

Terms That Can’t Be Covered

While most financial matters are fair game when it comes to prenuptial agreements, there are divorce terms that cannot be included. To begin, parental responsibilities, decision-making and parenting time must be determined according to the children’s current best interests, which means they are off limits when it comes to your premarital agreement. Further, child support is determined according to state guidelines, and terms can only be included in your premarital agreement if they exceed the state’s expectations. 

An Experienced Chicago Premarital Agreement Attorney Can Help

The formidable Chicago premarital agreement attorneys at WARD FAMILY LAW understand the important role that a well-considered premarital agreement can play in your marriage and have the insight and legal savvy to help. Learn more by reaching out and contacting us today.