Is an Illinois Prenup Right for You?

 Posted on November 10, 2022 in Family Law

When a couple is planning their wedding, they are usually focused on their future together and their goals for their married life. Divorce is not usually a topic that comes up during this planning, but national statistics belie that optimism. Although the divorce rate has dropped over the past several years, it still hovers at close to 50 percent. The percentage is even higher for second and subsequent marriages.

This is one reason why engaged couples should have prenuptial agreements on their wedding to-do lists. A prenup is a contract the couple enters into that details what would happen in the event of a divorce. Prenuptial agreements are legally binding contacts and are enforceable, but like many contracts, there may be legal issues a spouse can cite in a divorce that would nullify the prenup.

Contents of a Prenuptial Agreement

A prenuptial agreement can address several issues that the couple would need to agree on in a divorce, essentially stating the rights and responsibilities of each spouse in the event of a divorce. Some of the issues that can be included in a prenup include:

• Which assets and property are separate and which ones are part of the marital estate

• How marital assets will be divided

• If either spouse will be entitled to spousal support

There are certain issues that Illinois law prohibits from being addressed in a divorce. For example, child custody and child support cannot be included in a prenup because these issues concern the rights of a child. If the couple does divorce, these issues will be determined by the court based on the best interest of the child doctrine and Illinois law.

Validity of a Prenup

There are factors that could result in the court rendering the prenuptial agreement invalid in a divorce:

• The agreement must be in writing. A verbal agreement is not considered valid in the eyes of the court.

• Both spouses must have made a full disclosure of their finances prior to entering into the prenup.

• The agreement must have been signed voluntarily by both spouses, with no pressure or coercion.

• Both spouses must have had the opportunity to have their own attorney during negotiations and/or to review the prenup to ensure it was fair for both parties.

Contact a Kane County Prenuptial Agreement Lawyer for Legal Assistance

If you are planning on getting married, consider the security a prenuptial agreement can provide. Call Weiler & Associates, Inc. at 630-331-9110 to schedule a confidential consultation with a seasoned St. Charles, IL family law attorney and learn how a prenup could benefit you.

Source:

https://www.ilga.gov/legislation/ilcs/ilcs4.asp?ActID=2086&ChapterID=59&SeqStart=6000000&SeqEnd=8300000