Schaumburg prenuptial agreement attorneyHollywood is accustomed to ugly divorces. In 2018, Jersey Shore actor Jenni “JWoww” Farley filed for divorce from her husband, Roger Matthews, and now Matthews is contesting the validity of the couple’s prenuptial agreement. While the concerns of reality TV stars do not apply to most of us, any couple can have a prenuptial agreement. If you are going through a divorce, and you have a prenup, you will want to be sure to understand how Illinois law will apply to your case, including whether your prenuptial agreement can be contested.

Prenuptial Agreement Laws in Illinois

The Illinois Uniform Premarital Agreement Act governs all prenuptial agreements filed in the state of Illinois. This law states that to be enforceable, both parties must agree to the prenup and sign it. The agreement will go into effect on the couple’s wedding day.

The Illinois statute includes some provisions on what is unlawful to include in a prenuptial agreement. These include any terms that violate public policy or criminal statutes. Spouses are also not allowed to waive the right to receive child support or agree that a parent will not be required to pay his or her child support obligations.

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Arlington Heights prenup lawyerMarriage naturally intertwines a couple’s social and financial lives, and these matters must be untangled in the event of divorce. This is no easy task, especially in light of equitable property division, a legal model that ensures both spouses receive a fair share of marital property following divorce. Under this standard, spouses can expect to divide marital assets in roughly equal measures, regardless of which spouse provided the resources to acquire the property in the first place.

While the contributions of both spouses need to be recognized in a divorce, a spouse who has substantial assets coming into a marriage or the potential to become a high-earner may have reasonable concerns about protecting his or her interests if the marriage does not work out. In these cases, a couple may choose to use a prenuptial agreement to address the resolution of financial issues in the event of divorce or another designated event, such as the death of a spouse.

Planning for the possible end of a marriage before it has even begun may appear pessimistic, but a prenuptial agreement serves an important purpose, and it can make the divorce process faster and simpler by sorting out complicated issues in advance. Importantly, this need is not limited to couples in a particular stage of life at the time of their marriage, as both younger and older couples can benefit from prenuptial contracts.

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Palatine family law attorney, prenuptial agreementIn the days leading up to engagement and marriage, thinking about the negative possibility of divorce is not a topic most couples want to contemplate. Visions of growing old and all the things they hope to accomplish together usually overtake any concerns about the relationship not lasting.

While expecting a marriage to last a lifetime is the reasonable way to approach a new relationship, no one knows the future. Hammering out how to handle property division and payment of support in the event of divorce through the use of a prenuptial agreement may not be romantic or optimistic, but sometimes pragmatism is more important in the long-term. These conversations are especially important if a couple is older and/or is bringing a lot of assets and other financial resources into the marriage.

Figuring out these issues before divorce is on the table will make the process of dissolving the marriage easier by reducing the likelihood of disputes and the time needed to negotiate a settlement. The terms of these agreements must be memorialized in writing and executed prior to marriage. Further, Illinois regulates the formation and types of provisions these agreements can legally contain.

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Illinois prenuptial agreement, Palatine family law attorney, premarital agreement, prenuptial agreement, second marriages, non-marital assetsThe fact that roughly 50 percent of all first-time marriages end in divorce is common knowledge. However, you may be surprised to learn that 67 percent of second marriages (and 73 percent of third) do not make it “’til death do us part” either. There are no firm reasons why, but one aspect is clear — if you are contemplating taking a second trip down the aisle, you should have an Illinois prenuptial agreement.

Illinois Premarital Agreements

premarital agreement, more commonly known as a prenuptial agreement (or pre-nup for short), is a voluntary agreement entered in to by both parties prior to marriage that becomes valid once the couple is married.

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Premarital agreements have a bad reputation. People associate premarital agreements with a lack of commitment or as only appropriate for the very wealthy. But in reality, premarital agreements can provide stability and security to any marriage – regardless of financial situation. While Illinois’ divorce rate is somewhat lower than the national average, divorce is still common. If you live in Illinois and are contemplating marriage, consider whether a premarital agreement might be right for you.

Prenuptial Agreement IMAGE

A premarital agreement – also known as a prenuptial agreement or a “pre-nup” – is a written agreement between two prospective spouses in contemplation of marriage. Once signed by both parties, it becomes effective upon marriage.

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