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Planning for the future in Illinois with a prenuptial agreement

| Mar 21, 2019 | Prenup |

When a couple chooses to spend the rest of their lives together with the commitment of marriage, they often have several decisions to make. Some couples may have to decide where they will live and how many children they want to have in addition to planning a wedding. However, these plans are not the only ones couples in Illinois and across the country often address; many also use this time to plan for the future by creating a prenuptial agreement that will detail what will happen should the marriage end in divorce.

While a prenup can be helpful for a variety of different couples, it can be especially so for couples who have children from previous relationships or significant assets. Creating such a document is an opportunity for couples to discuss their finances, including both assets and debts. It can also determine who will be responsible for what expenses and what will happen to marital assets in the event of a divorce or death.

To reduce the chances that the agreement can be successfully challenged, there are certain steps to be taken. For example, both individuals need their own attorney, and each attorney should be independent of one another. Additionally, providing sufficient time for both parties to review and respond to the document beforehand is essential to avoid the appearance that one party was pressured to sign just prior to the wedding.

For many people in Illinois, a conversation regarding a prenuptial agreement may be a difficult one to initiate. In addition to helping negotiate fair terms, an experienced family law attorney can help start the conversation, potentially helping avoid an argument. Creating such a document is an opportunity for both people to protect both themselves and their children in the event the marriage should end in a divorce.