As an Illinois prenuptial agreement lawyer, I advise clients on the benefits of prenuptial agreements and help prepare agreements that are in their best interests. I serve clients throughout Will, DuPage, Kankakee, and Cook Counties, including clients in Joliet, Tinley Park, Frankfort, Crete, Chicago Heights, Sauk Village, University Park, Park Forest, Richton Park, Matteson and the surrounding communities.
If you are getting married and are interested in finding out about whether a prenuptial agreement may be beneficial, I would invite you to call me at (708) 279-4050 for a free consultation.
I can explain how prenuptial agreements work under the law, what types of assets and other protections may be available, and whether it might be beneficial for you to have a prenuptial agreement.
Nobody wants to think about a prenuptial agreement because nobody believes their marriage is going end in divorce. However, today, about 50% of all marriages end in divorce.
When a divorce occurs, emotions are often heated. Deciding the distribution of assets upon divorce can be a costly and complicated endeavor. Securing a prenuptial agreement can help to avoid the costs of litigation and give spouses the peace of mind that comes with knowing how their property will be handled if a divorce becomes reality.
Getting married is an exciting and stressful time for all parties. It may be difficult to address this with your future spouse. However, it is important to have the peace of mind that comes with a prenuptial agreement.
The best way to think of it is like an insurance policy. The agreement isn’t something that you plan on using. But it’s something you’re glad to have if your marriage does run into trouble and end in divorce.
Your future spouse also needs to understand that the agreement is there for both of you. It provides security knowing that you’ve already agreed upon the distribution of property if the marriage ends.
A prenuptial agreement is a contract between two people that details how their assets are to be divided in case of a separation, divorce, or death. This type of agreement is made prior to the marriage.
Most every couple can benefit from such an agreement. The peace of mind that comes with knowing how your property will be divided, should a divorce happen, is a benefit.
There are also certain situations where an agreement will be beneficial:
While there cannot be 100% certainty that any agreement will be upheld by a court, there are a number of factors that can significantly increase the probability that an agreement will be upheld. These include the following:
I help clients identify the factors that may need to be considered in prenuptial agreements. Please call me to schedule a free consultation to learn about how I can help you.
The biggest concern with prenuptial agreements is making sure that all assets now owned, or which may be owned, are properly contemplated and addressed in the agreement itself.
In many situations, couples who are marrying think only of the current assets that may be owned, which in many cases may be fairly limited. For example, couples may think about the cars, furniture, or other household assets that they currently own, or the money that is in their bank account.
What happens, however, if a house is purchased, or if one spouse contributes significantly to the upkeep and mortgage payments of the house currently owned by the other spouse? What about if cars and other assets are sold, and new vehicles or assets are purchased? What about financial assets, such as stock options that may be acquired at a later point, or retirement benefits?
Retirement benefits are often overlooked by young couples, since retirement may be decades into the future. However, after a decade or so of marriage, in some cases the retirement benefits may be the largest asset in the marriage.
The issues addressed in a prenuptial agreement can be extremely complex. A person considering this type of agreement should speak to and retain an experienced prenuptial agreement lawyer. If all issues are not addressed, the prenuptial agreement may have limited or no practical value. For instance, a prenuptial agreement that addresses specific cars, specified bank accounts, and a particular house will have no value if these assets no longer exist at the time of the divorce.
No attorney can predict with certainty what the future may bring. As a veteran prenuptial agreement lawyer, my role is to help clients foresee many of the life events that may occur and plan for them accordingly. This creates a potential division of assets that is as clear as possible and future litigation may be curtailed.
Please call me at (708) 279-4050 or fill out this form for a FREE Consultation.
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