What Do I Include in an Illinois Prenuptial Agreement? 

 Posted on March 09, 2022 in Family Law

When considering marriage, it is essential to discuss all of the legal aspects of this new chapter in your life with your partner. While many marriages are blissful, there are times when couples decide to separate or divorce. In the case of a separation or divorce, having a prenuptial agreement will help the process move along peacefully, efficiently, and quickly compared to a divorce proceeding without a prenup. If you are preparing for marriage with your partner, begin by speaking with a skilled family attorney who can create a prenuptial agreement that is best for your relationship.

Why Prenuptial Agreements are Useful

Why draft a document in the case of a divorce if you are sure you are marrying your soulmate? Many people avoid prenups for this reason. However, they could wind up regretting it later in life. Couples may decide to divorce for many reasons, not simply because of mistreatment or lack of love. Often, couples will separate or divorce due to relocation, financial incompatibility, or even disagreements in parenting styles. Even if you are sure your future spouse is the one, it may be helpful to dictate how your assets would be divided if your relationship ended. Having a plan may even help reduce any friction that would cause bad blood between you and your partner during a roadblock in your marriage.  

What to Include in My Prenuptial Agreement 

A prenuptial agreement is a legal document that lays out how assets and finances will be divided in the case of a divorce. In your prenup, it is a good idea to include:

• Which spouse would pay spousal support (alimony)

• How assets such as the home, furniture, or other personal belongings would be divided

• Each partner’s right to spend money during the divorce 

• Whether a spouse will have a right to the other’s life insurance 

• How debt or outstanding loans will be divided following the divorce

Couples may not include child custody agreements in a prenuptial agreement. That will have to be decided based on the child’s best interests at the time of a divorce. If you choose to draft a prenuptial agreement with your spouse before the big day, it is in your best interest to hire a family attorney experienced in this type of legal documentation. A lawyer will have the skills to understand each spouses’ financial health, determine ownership of assets before marriage, and help lay out an equitable division that represents the best interest of each partner. 

Working With a Joliet Family Attorney 

If you are preparing for marriage, our Plainfield family and divorce attorneys are here to help set you up for success. At the Law Offices of Tedone and Morton, P.C., we have five attorneys with years of combined experience working alongside new couples to draft prenuptial agreements. Call today at 815-666-1285 to schedule a free consultation and discuss prenup agreements or other legal elements to your marriage. 

Source:

https://www.ilga.gov/legislation/ilcs/ilcs3.asp?ActID=2087&ChapterID=59