Spouses who get divorced are entitled to marital property, which are assets that were acquired by either party during the marriage (with some exceptions). It is common for a spouse to experience a financial boost after being awarded his or her share of the marital property. Marital debt, however, which is also divided between both parties, can counteract that financial benefit.
In the debt division process, a judge often saddles both spouses with financial obligations. This can significantly affect the economic future of both parties, in ways that one or both spouses may feel is unfair. Some couples therefore hire an Illinois family law attorney to draft a prenuptial agreement that determines in advance how debt will be divided in a divorce.