Should You and Your Fiancé/Fiancée Consider a Prenup?

Should You and Your Fiancé/Fiancée Consider a Prenup?

Many people shy away from even considering prenups because – let’s face it – they have a pretty bad rap. A prenuptial agreement, however, is nothing more than a contract that will help guide the terms of divorce if your marriage does end that way. Prenuptial agreements are not a sign that either of you is not all in and do not make you more likely to divorce. 

The fact is that divorces happen, and if your marriage does end in divorce, a prenuptial agreement can help smooth the path forward. If you’re considering a prenup – or have been asked to sign one – you need the professional legal guidance of a dedicated Illinois divorce attorney who has a wealth of impressive experience addressing prenuptial agreements.

Prenuptial Agreement Requirements

In order for a prenuptial agreement to be valid in Illinois, all the following must apply:

• Your prenup must be in writing, and both of you must have signed it prior to your marriage. The more lead time, the better. 
• Your prenup will go into effect upon your marriage, and if you don’t marry, it will be void. 
• Before the prenup is signed, both parties are required to disclose their complete financials (while you can waive your right to receive your soon-to-be-spouse’s financial information, you must do so in writing). 
• While neither of you is required to have an attorney, the best way to ensure that your prenuptial agreement will be upheld by the court if it becomes necessary is if you both do

Primary Reasons for Having a Prenuptial Agreement

While there is a wide range of reasons why prenuptial agreements are often a good idea, some of the primary factors that lend themselves to prenups include:

• There are valuable or otherwise important assets involved. 
• One of you has a considerable amount of debt.
• One of you owns a business, which is often one of the most complicating factors when it comes to the division of marital property.
• You and your spouse’s finances are very lopsided.
• One of you is set to inherit a considerable amount of family wealth.
• One or both of you have children from other relationships, and you want to protect their inheritance rights.

There are any number of good reasons for considering a prenuptial agreement, and a seasoned divorce attorney can help you explore and better understand if a prenup is a good option for you.

What Your Prenuptial Agreement Cannot Address

While a prenuptial agreement can take on most matters related to finances, it can never include stipulations related to child support (unless the support included exceeds the state’s requirements) or child custody. Child custody arrangements are always based on the children’s best interests at the time of divorce, which cannot be predetermined. 

Seek the Skilled Legal Guidance of an Experienced Illinois Divorce Attorney

The accomplished Illinois divorce attorneys at SAM LAW OFFICE LLC take great pride in helping clients like you achieve the kind of peace of mind that comes from proactively protecting their financial assets. To learn more, don’t wait to contact us today.