A prenuptial agreement, which is commonly referred to as a prenup, is a legal contract that will be signed before a couple gets married, and it can provide protection to a spouse who is entering a marriage with significant assets. Similarly, a postnuptial agreement, also called a postnup, may be created at any point during a couple’s marriage, and it may be used to protect the interests of both spouses following changes in a couple’s financial situation. These agreements can specify how a couple’s assets and debts will be divided between the parties in the event of divorce or a spouse’s death. They may also address other financial issues, such as whether either party will receive spousal support following a divorce or separation and how ownership of property will be handled during a couple’s marriage.
The Importance of an Enforceable Marital Agreement
It is crucial to ensure that prenups or postnups will be enforceable, since this will help couples avoid potential disputes during a divorce. To make sure your agreement stands up in court if challenged, there are several key factors to consider:
1. Full Disclosure:
Both parties must provide full and accurate disclosure of their assets and liabilities at the time the agreement is made. Either person may choose to waive their right to receive a financial disclosure from the other party, but they must do so in writing. Failing to disclose all relevant financial information can render an agreement unenforceable.
2. No Coercion or Duress:
The agreement should be entered into willingly by both parties without any form of pressure or manipulation. It is essential to ensure that both parties voluntarily sign the agreement without feeling that they that were forced to do so.
The terms outlined in the agreement should be fair and reasonable for both spouses. Decisions that are highly one-sided may raise concerns about fairness, especially if they would leave one party with limited financial resources after the end of the couple’s relationship. If the court considers an agreement to be “unconscionable,” certain provisions may be invalidated, or the agreement as a whole may be determined to be unenforceable.
Working With an Experienced Attorney to Create Your Prenuptial or Postnuptial Agreement
When drafting a prenuptial or postnuptial agreement, a knowledgeable family law attorney can make all the difference between an agreement that will prevent contentious disputes in a divorce and one that will be thrown out by the court. At [[title]], our attorneys can help you understand what terms may be included in your agreement and what issues you may need to address to protect your rights and your financial interests. We will advise you on how to make sure your prenup or postnup meets all requirements under Illinois law.
Contact Our Chicago Prenuptial Agreement Attorneys
If you are considering a prenuptial or postnuptial agreement, the skilled attorneys at [[title]] can provide invaluable guidance and legal support. We will work with you to negotiate favorable terms, and we will help you draft and execute a legally-binding agreement that will provide the protection you need. Please contact our Cook County prenup and postnup lawyers at [[phone]] to schedule your free consultation.