Prenuptial Agreements: Protecting Your Future
It can be an exciting time when you are engaged to be married. It can also be a little unnerving. If you want to be prepared in case something goes wrong in your marriage, then a premarital agreement (also known as marriage prenup) may be the ideal solution.
Consumer Law Group, our Chicago prenup lawyers have more than 300 combined years of experience helping Illinois families of all shapes and sizes find peace of mind.
What Is A Prenup?
A prenuptial agreement is a legally binding contract that a couple enters into before they get married. This agreement isn’t a “plan to fail.” Instead, it is a way to make sure that you and your partner have a shared understanding of how your finances and other issues will be handled should you ever separate or divorce.
The Benefits Of A Prenuptial Agreement
One of the primary purposes of a prenup is to protect the assets that each party brings into the marriage. This can include property, investments, businesses and important possessions. Similarly, a prenup can outline how any debts will be handled, and it can establish the terms of any spousal support. That can be particularly important if one spouse has significantly greater assets, debts or earning potential.
Ultimately, this clarity can make a separation or divorce process smoother and less emotionally charged.
What To Include In Your Prenuptial Agreement
You can include almost any significant issue that would have to be addressed in a divorce in your premarital agreement. You cannot include anything that directly relates to your children, however.
How Does A Prenup Work?
For a prenup to be enforceable, both parties must enter into the agreement willingly and with full understanding of what the agreement means for them. Each party must also provide a complete and accurate account of their income, assets and debts at the time the agreement is crafted.
Can You Update Your Prenup?
Prenuptial agreements can always be revised through a postnuptial agreement. Postnups are exactly like prenups, only they are agreements made after the marriage begins.
Let Our Lawyers Help Your Craft A Fair, Effective Prenuptial Agreement
Do not leave your future security to chance. Let an experienced Chicago prenuptial agreement attorney show you what is possible. Call Consumer Law Group at 312-766-7777 or contact us online today to schedule a free consultation.