How to Create a Prenuptial Agreement in Illinois

 Posted on February 17, 2022 in Family Law

Premarital agreements are legal agreements between a couple prior to their marriage. Within a premarital or prenuptial agreement, many couples will lay out individual rights and responsibilities that each spouse will have during the marriage. These agreements are extremely useful in high asset marriages to help dictate property agreements and have proven to be useful if a marriage comes to an end. Engaged couples who are looking to create a prenuptial agreement before their wedding date should reach out to an experienced family attorney who is prepared to help navigate this process.

Reasons to Create a Prenup

Prenup agreements are most commonly portrayed in the media as contracts created by rich families to ensure their wealth stays in the family in case of a divorce. However, there are a plethora of reasons that couples decide to create a legal premarital agreement prior to their wedding. Typically, the reasons are unique and personal to each couple. There are often overarching themes in the reasons. Here are some of the most useful reasons to create a prenuptial agreement in the state of Illinois:

• Lay out the division of finances and bills during the marriage
• How to divide assets and property in the case of divorce or death
• How spousal support would be divided in the case of divorce
• Creation of wills and trusts in the case of death
• Ensure parental rights if/when children are introduced into the marriage

How to Create a Prenup

Considering that a prenup is a legal document, the state of Illinois has specific criteria required when creating and signing premarital agreements. The Illinois Uniform Premarital Agreement Act’s requirements for a legitimate prenuptial agreement that can be upheld in court include:

• A written document that both spouses sign voluntarily (witnesses not required)
• It cannot become effective until the first day of marriage
• If a marriage is deemed invalid (annulled or void), the prenuptial agreement is also void
• Any changes to a premarital agreement must be written and signed by both parties

If you and your partner are looking into creating a prenuptial agreement to protect your assets, divide your finances, express parental rights or discuss potential spousal support, the first step is to find a family attorney that you can trust. Hiring a lawyer during this process will allow you to ensure you are filing the paperwork correctly, are following all of the legal requirements and are creating equitable division between you and your spouse.

Find a St. Charles, Illinois Family Law Attorney

At Weiler & Associates, Inc., our experienced Kane County family lawyers are ready to assist you with creating prenuptial agreements and handling any other legal process prior to your marriage. We focus on client communication throughout the process, and with many years of experience we can help you handle many different legal issues. Call us today at 630-331-9110 to schedule an initial consultation.

Source:

https://www.ilga.gov/legislation/ilcs/ilcs3.asp?ActID=2087&ChapterID=59