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dupage county prenuptial agreement lawyerOnce considered a contract for the wealthy, marital agreements are becoming more commonplace, with couples of all socioeconomic backgrounds retaining prenuptial or postnuptial agreements.  Family law and divorce lawyers are adept at executing marital agreements, which are akin to insurance policies. Prenuptial and postnuptial agreements define marital and individual property, offering peace of mind. The benefits of marital agreements far outweigh the emotional awkwardness of preparing the contracts. Negotiating and signing marital agreements is an exercise of due diligence. 

Protecting Financial Interests in the Event of Divorce or Death of a Spouse 

Some find prenuptial agreements to be unromantic, foreshadowing divorce. However, it is sensible to sign one as they provide assurances of financial security.  In the event of divorce or the death of a spouse, prenuptial agreements are cost and time effective. Prenups help the parties circumvent long, expensive court battles in a divorce. Prenuptial agreements give credence to the court to what was and is intended between both parties. They also provide the couple with a reality check and provide an opportunity for spouses to discuss finances before they walk down the aisle. It is prudent for engaged couples to sign one.  Prenuptial agreements safeguard individual property, offering: 

  • Protection of family heirlooms
  • Protection of family businesses
  • Protection of trusts
  • Protection of inheritance
  • Protects future assets
  • Protection against or for alimony
  • Protection from spouse’s debts

The Benefits of a Postnuptial Agreement

Postnuptial agreements are similar to prenuptial agreements but are created during the marriage. Life can be unpredictable, and a postnuptial agreement is a legally binding contract that outlines the party’s wishes in the event of a divorce or death. If a prenuptial agreement was never drafted, it is beneficial for spouses to secure a postnuptial agreement.  

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IL divorce lawyerAnyone who has written a prenuptial agreement before getting married knows that negotiations can be tough. Both partners want good things for each other, but they must also look out for their own best interests in the future. Sometimes, negotiating a prenup can be so challenging that couples may feel as if they are negotiating a divorce before the marriage even starts.

Because prenuptial agreements take hard work and compromise, it is extremely important to make sure that they are legally enforceable if a couple does get divorced. Unfortunately, many couples spend time painstakingly writing a prenup only to get a nasty surprise during divorce proceedings: The prenup is unenforceable and gets thrown out by a judge. If you are considering writing a prenup with your spouse, here are three big mistakes to avoid.

Coercion or Duress

Each partner must agree to the contents of the prenuptial agreement and sign of their own free will. If a fiance coerces, blackmails, or threatens their partner to secure a signature, the prenup could be considered invalid. If one partner presents the other partner with a prenuptial agreement shortly before the wedding and makes the wedding contingent on their fiance signing the prenup, that could be considered coercion. Couples can avoid this by creating a prenup together, having it reviewed by their own attorneys, and signing the prenup well before the wedding.

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IL divorce lawyerGetting engaged to be married is an exciting and romantic experience. If you are like many soon-to-be spouses, you may worry that asking your partner for a prenuptial agreement will put a damper on this exciting time in your life. You may even wonder if bringing up the idea of a prenup will make him or her question the engagement.

Prenuptial agreements are massively misunderstood. Fortunately, more and more people are starting to understand the value of prenuptial agreements. Prenups are not only for celebrity couples or the ultra-wealthy. Prenuptial agreements protect both spouses’ rights and financial interests. Drafting a prenuptial agreement is also a great way to discuss crucial financial issues before you get married. The following tips can help you broach the subject in a way that is non-confrontational and low pressure.

Make it a Collaborative Venture

Many fiancé(e)s are offended by the idea of signing a prenuptial agreement because they assume that the documents only benefit one spouse in a marriage. Television shows and movies have painted a very inaccurate picture of what a prenuptial agreement actually is. Prenuptial agreements should always benefit both spouses. In fact, Illinois courts will not uphold a prenup that is “unconscionable” or grossly biased toward one spouse. Make the discussion collaborative. Instead of insisting that your partner signs a ready-made prenup, make an appointment to meet with an attorney together and discuss your questions and concerns.

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naperville prenuptial agreement lawyerThe majority of couples who decide to get married envision a  life together forever. They often imagine having a family, making memories, and growing old together. They may also feel that any discussion about a prenuptial agreement deflates all the romance out of planning their wedding, or they may think that having a prenup means that you do not believe your marriage will last.

The reality is, however, that almost 50 percent of all first marriages end in divorce. That rate is even higher – 60 percent – for second marriages. And if it is your third marriage, national statistics say you have a 73 percent chance the marriage will fail. Prenuptial agreements can make a significant difference if a couple does end up getting a divorce, saving time and money, and avoiding contentious divorce negotiations.

But We Are Not Rich

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Wheaton prenup attorneyPrenuptial agreements are valuable legal tools that can serve a variety of purposes. Unfortunately, many people misunderstand what a prenuptial agreement is and why a spouse would ever want to sign a “prenup.” Some even believe that signing a prenuptial agreement means that a person thinks their marriage is doomed to fail. Fortunately, the misinformation and myths about prenuptial agreements are slowly being replaced by more educated opinions. Research shows that prenuptial agreements are becoming increasingly popular – especially among younger couples. If you are interested in drafting a prenuptial agreement before tying the knot, consider the following tips for bringing up the idea to your partner.

Start Slowly and Do Not Pressure Your Spouse Into an Immediate Answer

If you want to get a prenuptial agreement, but you do not know whether your partner agrees, you may be unsure of how to broach the subject. One tip is to make the conversation as low-pressure and friendly as possible. Pressuring your partner into signing a prenuptial agreement is not only a great way to start an argument, but it may also lead to accusations of coercion, which may cause the document to be invalid.

You may want to start by casually mentioning that you read about how prenups are becoming more popular in recent years. This may be a good way to get your spouse’s opinion on the subject without outright asking for a prenup. You may be surprised to learn that he or she is more open to the idea than you assumed.

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