Prenuptial and Postnuptial Agreements

When two people are in love and planning their marriage the last thing they want to think about are legal issues regarding the distribution of properties and assets at divorce. However, according to statistics divorce is not just a possibility, it happens more often than not. Professionals or people with inheritances from family with alot of assets may be a target for a bitter ex-spouse and their attorney during divorce. To avoid the loss of assets and litigation fees people should consider a formal written contract to forego those unpleasant circumstances.

As previously mentioned many people don’t want to think about a prenuptial agreement at the beginning of their marriage but sometimes find themselves in a position where they have to make decisions about assets when facing divorce. Postnuptial agreements are entered into after a marriage has taken place, but before both parties seek to end the marriage. Similar to prenuptial agreements, one or both of the parties usually seeking to protect their assets or income in the event of divorce or death establishes such an agreement.

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Prenuptial Agreement

Typically, a prenuptial agreement also known as a “prenup” is entered by two people that are intending to get married in order to protect their separate assets or properties prior the marriage and in some cases what each individual earns throughout the marriage. However, a prenuptial agreement can also protect one of the people in case of divorce by guaranteeing a certain amount of assets or maintenance (alimony) in case of a divorce, usually in order to encourage that person to enter the marriage without fear. Prenuptial Agreements are enforceable in Illinois except when they are against public policy. There are two ways in which we can help you:

• If you and your future spouse have agreed on a Prenuptial Agreement in Illinois, we can advise both of you and prepare the Prenuptial Agreement for you and your future spouse.
• We can advise you and prepare the Prenuptial Agreement for you to present to your future spouse.

Postnuptial Agreement

A postnuptial agreement (also known as a “postnup”) is just like a prenuptial agreement (see above), except it is entered by you and your spouse in order to help preserve your marriage. For example, if one spouse begins feeling insecure in the marriage and wants some assurances in order to “stick it out.” Postnuptial Agreements are enforceable in Illinois, but not as enforceable as Prenuptial Agreements. Again, there are two ways in which we can help you:

• If you and your spouse have agreed on a Postnuptial Agreement, we can advise both of you and prepare the Postnuptial Agreement for you and your spouse.
• We can advise you and prepare the Postnuptial Agreement for you to present to your spouse.