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When is a Prenuptial Agreement Considered Invalid?

Posted on in Prenuptial Agreements

Naperville prenuptial agreement lawyerThose getting married who want to protect their financial rights often choose to sign a prenuptial agreement.  Prenuptial agreements, also called “prenups” or premarital agreements can be to protect assets including real estate or a family-owned business in the event of divorce. Signing a prenup does not mean that a couple plans to divorce just as someone who buys car insurance does not intend to get into a wreck. Prenuptial agreements are a type of contract which will help determine how assets and debt is divided and whether or not spousal maintenance is awarded during divorce. There are several things which can invalidate a premarital agreement, however. If you are considering using a prenuptial agreement, make sure it meets the criteria set by Illinois law. Prenuptial agreements which do not meet the requirements or contain invalidating provisions may be thrown out entirely during a divorce.

Parties Must Willingly Sign Prenup

One of the most important requirements of a valid premarital agreement is the willfulness of each party.  If one of the parties was pressured or coerced into the agreement, it may be considered invalid. For example, if one member of the couple threatens harm to the other unless he or she agrees to the prenup, the document will not be legally enforceable. Furthermore, a prenup can be invalidated if a party was under the influence of drugs or alcohol, or otherwise not in the proper frame of mind when agreeing to the document. 

Documents Must Be Properly Executed

Prenuptial agreements must be physically written down and signed by both parties to the marriage. Couples will generally need four signed copies of their prenup to be kept by each spouse and their legal representation. A valid prenuptial agreement must contain an itemized list of all of the couple’s assets, property, and debt. Failure to be transparent about finances can completely nullify a prenup. If one or both parties does not disclose all of these items, undervalues assets, or is otherwise dishonest about finances, the prenup may be worthless.

Contact a DuPage County Family Law Attorney

If you are planning to get married and want to learn more about prenuptial agreements, a skilled Naperville family law attorney can help. Contact the experienced lawyers at Pesce Law Group, P.C. by calling 630-352-2240 today. We offer cost-free, no obligation initial case consultations. We have helped people throughout Illinois create prenuptial agreements, including clients in DuPage County, Kane County, Cook County, and the surrounding areas.

 

Source:

http://www.ilga.gov/legislation/ilcs/ilcs3.asp?ActID=2087

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