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What are the limitations of a prenuptial agreement?

If you are considering putting together a prenuptial agreement, you probably have some financial concerns regarding your upcoming marriage. A legal contract between you and your future spouse is a great way to address those matters.

According to the Illinois Uniform Premarital Agreement Act, couples can include a wide variety of financial issues in the contract, such as property division, spousal support payments, wills, trusts and other personal rights. However, there certain matters that people may want to include in an agreement that do not have any place there, such as the following:

  • Anything that would be considered illegal
  • Rules about household responsibilities or other domestic issues
  • Decisions regarding child custody and child support
  • Any items that a judge could construe as encouraging divorce
  • Expectations for child rearing

Most people seek a prenuptial agreement because of its financial benefits. The American Academy of Matrimonial Lawyers conducted a survey last year that found that an increasing number of people – especially an increasing number of women – are seeking the contracts for protection in the event of a divorce. What’s more, the top three reasons that people form the contracts are for outlining spousal support or alimony, protecting property that is separate and other matters related to dividing property.

Couples interested in protecting their assets may want to put together a prenuptial agreement under the guidance of an attorney who can outline the items that are appropriate and the ones that should be left to a discussion between spouses.

While this information may be useful, it should not be taken as legal advice.

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