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.
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:
Finally, a premarital agreement will not be upheld if it means that one spouse will be eligible for government assistance.
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.
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.
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.
Love and marriage. We needed a prenup because our families made us do one just to be safe. The entire thing was smooth so we could focus on our wedding and not be too crazy with the prenup. The agreement was drafted and reviewed by each of our attorneys, we signed and we were married. Woo Hoo. Thanks again, Ward Family Law.
10/10 is my rating for Ward Family Law. Jennifer and Emily went above and beyond in my divorce case. I cannot say more praise.
I lost my job but still had to pay the child support. I was scrambling. I talked to Jennifer Ward and she explained the process and the need to quickly file to put the court on notice that my child support needed to change. She saved me so much money in the long run while I looked for a new job so that I could start paying to help my kids again. Losing my job was not in the plan but at least my kids are on track.
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