While many people are familiar with the idea of a prenuptial agreement, there is some confusion about what it needs to include and what makes it valid. If you and your future spouse have decided to create a prenuptial agreement to give you peace of mind in the case of a hypothetical divorce, it is important to discuss this decision with a lawyer. Our experienced Wheaton, IL family law attorney can guide you through the process of drafting a prenuptial agreement.
Tip 1: Full Disclosure of Liabilities and Assets
One of the most important aspects of a valid prenup is full disclosure of all assets, debts, and financial interests. Both spouses need to fully disclose any property, income, bank accounts, retirement funds, debts, and any other financial interests before a prenup is signed. If it is later discovered that someone hid or misrepresented their financial situation, the prenup may be invalidated.