Arlington Heights, IL Prenup and Postnup Lawyers

Knowledgeable Lawyers for Prenuptial and Postnuptial Agreements in Arlington Heights, Illinois

In most cases, when a couple chooses to get married, they will not be thinking about whether they might get divorced in the future. However, a significant percentage of marriages end in divorce, so it can be beneficial to consider how certain issues will be addressed if a couple's relationship ever does come to an end. One way that spouses can address these matters is through a prenuptial agreement, or prenup.

At A. Traub & Associates, our family law attorneys understand the legal issues that couples often need to address during divorce, and we can work with you to put a prenuptial agreement in place that will help limit the possibility of conflict while protecting you against the loss of your financial assets. We also assist married couples in creating postnuptial agreements.

Prenuptial Agreements in Illinois

According to Illinois law, a couple may create a prenuptial agreement before their marriage, and it will become effective when the spouses become legally married. A prenup must be in writing, and it must be signed by both spouses. Both spouses should fully disclose all relevant financial information to the other, including the income they earn, the property they own, and the debts they owe. In addition, each spouse should be represented by an independent attorney.

A prenup can address how certain issues will be handled during a divorce or upon the death of a spouse. These issues may include:

• Property Division: The prenup can specify whether certain assets are considered marital or non-marital property, and it may make decisions about how marital property will be divided between the spouses. For those who own substantial assets before getting married, an agreement can provide protection against losses, and it can help avoid conflict over marital property in a potential divorce.
• Spousal Maintenance: The prenuptial agreement may state whether either spouse will receive alimony from the other in the case of divorce. A specific amount and duration of spousal support may be specified, or a spouse may waive their right to receive maintenance.
• Inheritance Rights: Following the death of a spouse, their assets will typically be divided between the surviving spouse and their children. A spouse may wish to use a prenup to ensure that any children they have from a previous marriage will inherit certain property or assets. This can supplement wills to help ensure that the spouses' wishes will be followed after the death of either party.

A prenup cannot be used to address child custody issues, and it cannot affect either parent's child support obligations. These matters will be decided during a couple's divorce or legal separation proceedings based on what a judge believes will protect the best interests of the children.

Postnuptial Agreements

While a prenup can only be created prior to a couple's marriage, spouses may wish to create a similar agreement during their marriage. A postnuptial agreement can address the same issues as a prenup, and it can be beneficial in a variety of situations, such as:

• One spouse plans to found or acquire a business, and they want to make sure the business will be able to continue operating if they ever get divorced.
• One spouse plans to make a large investment, and the other spouse wishes to ensure that other marital assets, such as the family home, will not be at risk if the investment does not pay off.
• One spouse does not want to be responsible for debts accrued by the other spouse.

Contact Our Arlington Heights, IL Prenuptial and Postnuptial Agreement Lawyers

A prenup or postnup can provide you with peace of mind, and it can help avoid uncertainty and conflict during divorce. If you want to know more about the benefits of these types of prenuptial or postnuptial agreements, or if you need help drafting a marital agreement, contact A. Traub & Associates today at 847-749-4182 and set up a confidential consultation.