Share Your Experience

five star review
X
Blog
Lombard Office
630-426-0196
Wheaton Office
630-426-0196
Text Us Now
630-426-0196
Subscribe to this list via RSS Blog posts tagged in benefits of a prenup

Lombard, IL prenup lawyer

Remarrying an ex-spouse is fairly uncommon but it does happen. This typically happens with couples who married young and have been divorced for a significant period of time. People grow older and wiser, realize their mistakes, and change their futures based on the experiences they have acquired since the end of that relationship. 

According to research conducted by Nancy Kalish, a professor emeritus at California State University, 6 percent of couples claim to have married, divorced, and remarried the same person. Of these individuals, 72 percent stay together after remarrying. 

...

Lombard Prenup Lawyer 

For many people, pets are a part of the family. You get them when they are young and you take care of them as they grow older, much like parents do with their children. Whether the pet is a dog, cat, bird, or reptile, many pet owners view their pets as children as well. 

Divorce means the division of assets between two spouses, but also a decision on who gets the pet after the divorce papers are signed. Prenuptial and postnuptial agreements are a way to make these decisions while a couple's relationship is in a good place, instead of during the often contentious divorce process if they reach that unfortunate conclusion. Much of the negative perception regarding these agreements has faded in the public consciousness because couples now see the value of expecting the best but planning for the worst.

...

prenup, premarital agreement, Illinois family lawyerThere is nothing on earth quite like the feeling of falling in love. For as long as most people can remember, they have dreamed of the day they would meet "the one" and enjoy a long, happy life together. Social traditions, of course, change over time, and the landscape of a modern marriage has been greatly impacted as a result. Previous generations saw marriage primarily as a starting point from which a young couple was expected to start building a life together. Virtually every life achievement, job promotion, or major purchase was experienced as a couple, and the idea of a prenuptial agreement seemed to have little value in most situations.

Over the last several decades, however, trends show that more Americans are waiting longer than ever to get married, meaning that, as individuals, there is more time to accumulate assets, create business opportunities, and generally establish independent identities. When the time comes for marriage, both partners are bringing more of their lives with them than ever before. For many, establishing a formal arrangement prior to getting married may provide both partners with the security they need to fully commit themselves to the success of the marriage. In this sense, a prenuptial agreement can be more than just an insurance policy against divorce; it can actively contribute to a happy and healthy marriage.

Common Considerations

...

engaged couple money topicsThere are many issues that an engaged couple should discuss before they actually get married. Often, a couple gets so caught up in the romance of the event that they forget about the practical and important financial issues that should be decided before the actual walk down the aisle happens. And since money is one of the most common reasons why married couples argue, there are certain topics that should be discussed to avoid major problems between the couple in the future.

Both partners should share with each other how they see their shared future. They should both have a clear understanding of whether or not they both want children and how many. They also both need to have a clear understanding about where they would like to raise that family, such as in the city, suburbs or in the country. Both partners also need to be aware of any future career goals their future spouse may have and how those goals could impact their life together.

There also should be an honest discussion about each other’s current financial obligations. For example, if either partner has children from previous relationships, the other party has the right to know what the financial obligation is for those children, including how much child support is paid out or how much child support is received. It is not only current financial obligations that are important to share, but also future ones, such as elderly parents that may require financial assistance or any medical issues.

...

prenuptial agreementYour wedding day is quickly approaching, but you are wondering if you and your fiancée will maintain composure while discussing your mutually agreed upon premarital agreement.

The Uniform Premarital Agreement Act (750 ILCS 10) was enacted in Illinois to provide financial and property protection for those entering marriage. The statute also lays the guidelines of the anticipated union. More often than not, financial protection is the primary reason couples enter into a prenup.

It sounds fairly simple: each individual legally seeks financial protection of real property or financial interests. The prenup is to be drafted in writing and signed by both parties involved. What else do you need to know?

...

So you are getting married! Congratulations! Now the whirlwind begins... Appointments with the wedding planner, the florist, the photographer, the banquet manager, the musical director, the clergy, the bakery manager, the dressmaker and the jeweler. Your schedule is filling up fast, so many discussions and decisions, but is there one discussion you may be avoiding on your growing list of "to-dos"?

 prenuptial agreementThe Prenuptial Agreement Not for celebrity use only, the prenuptial agreement has been around as long as couples have been tying the knot. According to a New York Times article, the prenuptial agreement can be traced back at least 2000 years. Ancient Hebrew society drafted marriage contracts known as Ketubahs and the French included an agreement as part of the dowry as far back as the ninth century. Originally, these predecessors of the prenuptial agreement were drafted to protect the wife in case of her husband's death or divorce, as a form of predetermined insurance. Often today, a prenup suggests the protection of sizable wealth, but in all reality, an effective agreement can cover all the bases by eliminating lengthy and costly differences over assets in the event of a divorce. So how do you go about discussing this with your eager fiancee without finding yourself immediately thrown back into the dating scene? As unromantic as it may seem, if you are adamant about drafting a prenup, these tips may help when approaching your unsuspecting fiancee: Yours, Mine and Not Ours This may be the best argument for signing an agreement. For example, if you are still paying off student loans by drafting a prenup you can secure that your future spouse doesn't assume your debt. In the event your intended has investments made prior to your union, you can also ease their worries by legally refraining from any financial control of those investments. Financial consideration also protects both partners from any changes in state law regarding marital property.  Bringing Up the Kids Literally, when the little ones arrive, what's the plan? Will one parent leave the workforce to raise the children? A predetermined agreement can protect asset distribution for the stay-at-home mom or dad in the event of a break-up.  Cents and Sensibility By clearly defining goals, a prenuptial contract can be drafted for less money than the cost of two divorce attorneys in the event the marriage fails.  Mapping the Marital Future A prenup can also secure a standard of living without the many financial surprises a divorce can bring. Having set arrangements for alimony and residence determinations can ease the pain of divorce and the fear of the unknown. Child custody and child support, however, can not be determined in a prenuptial agreement.  The Golden Years If it would ease your fiancee’s concerns, a sunset clause can be added to the agreement. This allows an automatic termination of terms within a specified time period, protecting each person's assets early in the marriage. A prenup can also be terminated at any time if both spouses are in agreement.  Legal vs. Marriage Counseling Once your fiancee is on board, plan on scheduling an appointment with an experienced family law attorney to learn more about all of the options that are available to you. Executing an amicable prenuptial agreement can ease the tensions of constant "what-if's" as well as defining your marital goals. It may also prevent heated arguments about finances and responsibilities and thwart a trip to the marriage counselor. Your wedding day is destined to be one of the most memorable days of your lives, having a strategically drafted prenuptial agreement in place will only be the icing on your wedding cake. We understand the concerns. At A. Traub & Associates we are experienced with working with couples to draft a prenuptial agreement that will best suit everyone’s expectations. Contact us at 630-426-0196 to schedule your consultation today.
Illinois State Bar Association DuPage County Bar Association Northwest Suburban Bar Association American Inns of Court DuPage Association of Woman Lawyers National Association of Woman Business Owners Illinois Association Criminal Defense Lawyers DuPage County Criminal Defense Lawyers Association
Back to Top