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Prenuptial & Postnuptial Agreements

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Prenuptial & Postnuptial Agreements
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PRENUPTIAL & POSTNUPTIAL AGREEMENTS

When a couple decides they will pursue a separation or divorce, the division of their assets is subject to the divorce laws in their state. If either or both spouses have strong desires about what should happen to their assets if they decide the marriage is over, a prenuptial or postnuptial agreement can be beneficial. If the agreement is valid, the court will enforce it. It’s important to consult with a skilled Chicago nuptial agreements lawyer if you are interested in such an agreement.

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Prenuptial Agreements

Also known as a “prenup,” a prenuptial agreement is something that each prospective spouse agrees upon before the legal marriage. It is a written contract that must be signed by both individuals. Most prenuptial agreements address at least one of the following:

  • Responsibility for specific types of expenses and debts they that incur during the marriage
  • What will happen to the couple’s assets, such as property, income, expenses, and debts if the marriage comes to an end
  • The amount and duration of alimony that one spouse will pay to the other if they divorce or separate
  • What should be done with certain assets if one spouse passes away

If the couple does end up getting a divorce at some point down the line, having this legally binding agreement already completed can help them save time, expense, and stress when it comes to the division of property. To be enforceable, each party must have their own lawyer.

Postnuptial Agreements

Postnuptial agreements address the same issues as prenup agreements. However, they are made after the couple is married.

Settling affairs to define each party’s wishes can help prevent issues later on.

A few of the main issues that a postnuptial agreement addresses include:

  • Division of property/assets
  • Division of debts
  • Spousal support/maintenance

At their inception, these types of agreements were difficult to enforce. Since then, they have risen in popularity, especially with no-fault divorce laws.

Postnuptial agreements do not require each spouse to use their own Chicago nuptial agreements attorney.  Although, if they do not have separate attorneys, the court will scrutinize the agreement more than if they did.

Valid Agreements

For the court to enforce a nuptial agreement, they must determine that it is valid. Several factors can make it invalid and unenforceable, including:

  • There is no written agreement—it must be in writing
  • One of the parties was pressured or signed it under duress
  • One of the parties didn’t read the agreement or wasn’t allowed proper time to consider it
  • There are illegal provisions
  • Lacks information or contains false information
  • The agreement is substantially unfair to one party

You want to ensure that the court will uphold the agreement you create in the event you and your spouse separate or divorce.

Let a Knowledgeable Chicago Nuptial Agreements Lawyer Assist You

At Pinkston Law Group, P.C., we can help you craft an effective prenuptial or postnuptial agreement that will be enforceable by the courts. By clearly delineating the division of marital property and the expectations for spousal support, a prenuptial or postnuptial agreement can reduce the common issues associated with ending a marriage. To learn more or schedule your nuptial agreements consultation with an experienced Chicago nuptial agreements lawyer, contact us today.

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