No one in Illinois expects to be involved in a car accident, but they plan for that possibility anyway by purchasing car insurance. Likewise, no one has an expectation that their marriage will end in divorce while they are planning their wedding. However, the reality of life is that some will, and creating a prenuptial agreement is a form of insurance to protect their assets and ease the property division process should they choose to go their separate ways.
The process of creating a prenuptial agreement, known to some as an antenuptial agreement, can provide couples an outlet to be completely honest about their current financial situation, including both assets and debts. By creating one, couples in Illinois are taking control of the asset division process of a divorce,. This could ensure that they will be making the decisions rather than asking a court to make a determination.
To ensure that such an agreement is properly drafted — and thus, binding — many turn to the experienced law firm of Lois Kulinksy & Associates, Ltd. for guidance. With our over 20 years of experience, combined, we can help our clients draft strong, enforceable agreements. Our knowledge of state law can also help in the event that an unforeseen circumstance arises that was not anticipated when the agreement was created, such as if one of the spouses becomes disabled.
Other complicated scenarios can arise that could create complications during a divorce. For example, some couples must grapple with a scenario in which one spouse invests nonmarital assets in the family home. Our attorneys can help those creating an initial agreement guiding property division or those going through a divorce but facing a situation that was not explicitly addressed.