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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.

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Lombard family law attorneysPrenuptial agreements, or prenups, are becoming more common, as they acquire a solid reputation for safeguarding one’s interests and assets. However, they are not cure-alls for marriages. There are some things that simply cannot be addressed in a prenup. It can help avoid disagreements if your prenuptial agreement is crystal clear on what it disposes of and if you do not try to do too much with it.

DO: Distinguish Between Marital and Non-Marital Property

This is arguably the primary purpose of a prenuptial agreement. Illinois law lists it as the second right that couples have in the creation of such a document, and indeed, that is what most are used to accomplish. Dividing one’s property in a prenuptial agreement can save significant time and trouble in divorce court, which can provide a significant boost to post-marital relations.

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prenuptial agreement, prenup, Arlington Heights Family LawyerWhen you make the decision to marry someone and share your life with him or her, the romantic love that you feel is often intoxicating. Your idealistic vision of the future make take over, and, as the wedding day gets closer, it may not even occur to you that you are entering into a business partnership as well as a romantic union. Throughout history, however, marriage has been an arrangement of shared property, while the romantic aspect of marriage has really only evolved relatively recently. Modern marriage, as combination of social contract and romantic love has led to the increased utilization of prenuptial agreements to protect the financial interests of each spouse.

For many, the concept of a prenuptial agreement is closely tied to a prediction of failure, as such agreements necessarily consider the possibility of divorce. This is often seen to be in direct contrast to the idea of marrying for love and living "happily ever after." As such, couples frequently struggle with the dilemma of making practical, yet seemingly cold preventive arrangements, or relying on love and trusting that things will be fine.

However, a large number of prenuptial agreements are drafted not only in anticipation of a potential divorce, but also as security in the event of a spouse&s unexpected death. Indeed, providing for your surviving spouse after your death is its own romantic (and responsible) gesture. When considered from this perspective, prenuptial agreements can actually bring harmony to your marriage by settling financial issues and keeping them from creating conflict during your life together and afterward.

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prenuptial agreement, invalidating an agreement, Illinois family law attorneysBefore your wedding, you and your fiancé went through the process of drafting a prenuptial agreement. Like many couples, you decided that it was in your best interest to create an arrangement for financial security in the event of a divorce or premature death. Maybe you were not fully on board with the idea, but you loved him so much that you were willing to do just about anything to marry him.

Now it is several years later, your marriage has come to an end, and you realize that some of the terms and clauses in your prenuptial agreement seem to be a bit one-sided or unfair. You may even be wondering if it the agreement is valid and enforceable. Depending on the circumstances, it is possible that a prenuptial agreement may be invalidated for several different reasons.

Fraud

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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

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inheritance in divorceFor the majority of people who get married, the assumption is that it will be "’til death do us part." Despite the high rate of divorce, most couples think they will beat the odds and live happily ever after. Typically, all the assets a couple acquires during the marriage are pooled – income, gifts, inheritances, etc. are all shared between the two spouses. The reality is, however, that at least half of marriages do end in divorce, with an even higher rate if the marriage is a second or third marriage.

Most divorce negotiations involve how finances and property will be divided between the couple, but what happens with the inherited assets? Unfortunately, in many circumstances, unless there was an agreement in place before the divorce, those assets just may be included in the marital estate. A person may be able to keep that expensive piece of jewelry their grandmother left them, but the value of that piece becomes part of the marital estate and the other spouse is entitled to receive something of equal value in their share of the marital estate. The same may be true for inherited real estate property, stocks and bonds, and cash.

There are ways a person can protect those inherited assets in the event their marriage does not work out. The first step is a prenuptial agreement. Engaged couples should consider prenuptial agreements for many reasons, and this certainly is an important one. A prenup can clearly outline that in the event of a divorce, inherited assets go to the spouse they were intended for and not considered part of the marital estate.

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social media, divorce, marriage, prenup, prenuptial agreement, premarital agreementWhen people think of prenuptial agreement clauses, what typically comes to mind are items such as property, financial assets and spousal support. However, due to how integral social media has become to our day to day lives, it is becoming more commonplace for couples to add clauses in their prenups regarding social media behavior.

These types of clauses are not just for celebrities or other people in the public spotlight. These types of provisions are for anyone who works in a business where their reputation is critical to success and could lose their job at even a hint of scandal.

Popular social media clauses include not posing any embarrassing or inappropriate photos or videos that could harm the other spouse’s reputation. This could also include what type of comments that a person makes.

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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.

Posted on in Divorce

The Huffington Post recently wrote about a new concept in family law that was actually developed by a real estate attorney as an alternative to marriage. Instead of "entering into wedlock", Paul Rampell says couples should enter in a "wedlease".

Kerry wedleaseRampell says part of the problem with the institute of marriage is that legal structure of marriage has not adapted or expanded as society has changed. There has been no improvement to that legal structure.

Citing marriage as a "legal partnership that lasts a lifetime", Rampell says that lifetime partnership is reason for the high rate of divorce, "People, circumstances and all sorts of other things change. The compatibility of any two people over decades may decline with these changes to the point of extinction," he says.

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A Brooklyn appellate court decided that a prenuptial agreement between Elizabeth Petrakis and her husband, Peter Petrakis, will be thrown out. This decision almost never happens, according to Elizabeth’s attorney. Her lawyer also stated that "To a large degree, this has upset the heretofore common thinking that prenups were not subject to challenge. ... Now there&s precedent for vacating a prenup."

According to this article in the Huffington Post, the prenup was presented to Elizabeth three months before the marriage. It stated that she would get $25,000 for every year they were married, but all assets acquired during their marriage would belong to Peter in case of a divorce. Elizabeth refused to sign it until four days before the wedding, when Peter told her he’d tear it up once they had children.

Unfortunately, Peter never tore it up—an act which Elizabeth’s attorney calls fraud. This deception was the grounds for the case, and why the appellate court ruled in Elizabeth’s favor.

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ChristineMarriage is a collection of years and memories that represent two lives connected. When it happens to dissipate, you cannot take back those years nor the memories; however, the property(s) you have jointly accumulated can be. In some fashion or another.

Hearing "prenuptial agreement" prior to the wedding day makes some shudder, some even loudly explaining how they do not need it at all because their marriage will be perfect and will work. However, with today’s statistics not playing in anyone’s favor, it might be a good idea to look into a pre-nup to ensure what you came into the marriage with leaves with you.

During the process, there are some other things to consider. If both spouses live on the same property, it is important that all the assets have been listed, what their value is and organized by if the property is joint or separate ownership. The taxes of said assets need to be determined.

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Posted on in Divorce

AmandaWith divorce rates as high as ever in the US, the probability that you will be dating someone who has had a previous marriage is high. Relationship experts don’t see the problem with dating someone who has been divorced, but it does depend on the circumstances, according to a Chicago Tribune article. If you are only casually dating someone who has had several divorces than there should be no problem, according to Holly Parker, a professor at Harvard University. But if you are looking to be in a committed relationship than you should think more about your decision, she says.

First, she says you should consider why has this person been married three to four times. There might be some personality traits and emotional health issues that are causing the person to have more than three failed marriages. However, a New York psychiatrist, Gail Saltz, who specializes in relationships issues says, "There is no one size fits all answer, because people get married and divorced for many different reasons." But she even agrees that you should find out how their previous marriages ended and what the person learned about themselves from each of these marriages. Also, ask what they feel about future marriages, and what their relationship with their ex or exes are like.

It is important to know how the once-divorced person understands what went wrong in their previous relationships, and whether or not they discovered what the problem was. It is also normal for a person twice-divorced to say that there are issues that are not understood or resolved. But for someone who has been divorced three or four times, it is likely that they have problems choosing someone or maintaining a long-term relationship, according to Saltz. However, just because a person is a divorcee does not mean you should overlook them, it is important to understand what happened in their previous marriages to be able to move forward.

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