While premarital agreements are often cast in a bad light, they are actually gaining in popularity as a result of their ability to take the guesswork out of how one’s financial rights will fare in the event of divorce. In fact, although premarital agreements are on the rise, divorces are not. Many married couples find that taking the question mark out of what a divorce would mean to them helps them focus on their marriage. If you are facing questions or concerns related to a premarital agreement, it’s time to consult with an experienced premarital agreement lawyer in Chicago.
A premarital agreement is nothing more than a contract that guides how certain terms of divorce will be resolved in the event that the marriage does end in divorce. These contracts are created and signed prior to marriage but don’t go into effect until the couple marries – and if there is no marriage, the agreement has no legal impact.
In order for your premarital agreement to be binding, it must be valid, which means that all of the following must apply:
Premarital agreements generally focus on financial concerns such as the division of marital property and the matter of alimony, which often become contentious in the course of a divorce. Premarital agreements also allow spouses who already have children to protect their inheritance rights – ensuring that they’ll inherit in accordance with their parent’s wishes when the time comes. For reasons like this, premarital agreements are especially common among people who are marrying for the second time.
Premarital agreements shouldn’t include terms related to parental responsibilities, decision-making and parenting time because this primary issue must be resolved in accordance with your children’s best interests at the time of divorce, which are impossible to know ahead of time. Child support terms that are included in your premarital agreement will not prevail unless they exceed the amount that the state would require in your case.
Instead of considering a premarital agreement as a blight on your marriage, think of it as an opportunity to protect your financial rights while allowing you and your spouse to grow as a couple. The accomplished premarital agreement attorneys at WARD FAMILY LAW in Chicago bring their impressive legal skill and experience to every case they handle, and they’re here for you, too. To learn more, please don’t hesitate to contact 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.
If you would like an attorney to contact you for a free consultation, please complete this form.