Skilled Chicago Prenuptial Agreement and Postnuptial Agreement Attorneys

If you are engaged (or are already married) and want to ensure that you have a mutual understanding of certain obligations or specific divisions are in place, should something go awry in your marriage, then a Premarital Agreement (also known as a Prenuptial Agreement) or a Postnuptial Agreement may be the best option. These types of Agreements should not be viewed as an act of bad faith or distrust but rather a way to ensure that both parties have a clear understanding and mutual agreement as to how finances and other non-child-related matters will be handled in the event of a separation and divorce. Jennifer R. Ward, Esquire, was an active public speaker on this topic, including a matrimonial-related lecture series at The Latin School of Chicago Adult Education Program.

Premarital Agreement (a/k/a Prenuptial or Antenuptial Agreement)

This is a legally binding contract that the parties enter into prior to their marriage. It defines and details the parties’ agreement as to how financial and other non-child-related matters will be handled if and when the marriage ends, either by divorce or the death of one of the parties. There are a few requirements as to what must be contained in a Premarital Agreement, but generally, all of the terms contained in a Premarital Agreement are determined and mutually agreed upon by both parties.

Preparing a Premarital Agreement allows parties to openly discuss any issues they think should or should not be included in the agreement, reach compromises as to any issues or concerns, and receive detailed explanations from their respective counsels regarding the provisions contained in the Agreement. As with any other contract, all terms of a Premarital Agreement must be agreed upon by both parties. If one of the parties was coerced, under duress, involuntarily signed, or otherwise executed the prenuptial agreement under false pretenses, it may not be enforceable to that end.

Postnuptial Agreement (a/k/a Postmarital Agreement)

This is a written agreement that the parties enter into after they are married. Married couples may elect to enter into a Postnuptial Agreement for the same reasons as parties entering into a Premarital Agreement or when they wish to provide for a specific division of assets or the fulfillment of certain obligations in the event of dissolution of marriage or death. 

Both types of these agreements allow parties to openly discuss financial matters between them so that each has a clear understanding and expectation concerning their financial rights and obligations, both during the marriage and in the event of a divorce or the death of one of the spouses. It is important to note that issues of child support and parenting time cannot be incorporated into either of these agreements. 

Contact WARD FAMILY LAW, LLC, today to schedule an appointment to have your desired agreement drafted.

FAQs about Prenuptial and Postnuptial Agreements in Illinois