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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. 

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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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Lombard divorce attorneysWe have all heard the phrase “love is blind.” Many of us have even fallen victim to it ourselves. It is not uncommon for a person, when he or she first falls in love, tend to only see their partner’s good points while ignoring their faults and evident warning signs. This is likely to be a contributing factor to many divorces, especially for couples who marry after only knowing each other a short time.

Such is often the case for people who marry someone, only to find out later that their spouse is a “gold digger.” The word gold digger refers to a person who begins a romantic relationship or marries a partner because the partner is wealthy or well-connected. These relationships are also referred to as romance scams. Although it is common to think that only women are gold diggers, there are many cases in which men are just as guilty.

Know the Warning Signs

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Posted on in Family Law

Lombard family law attorneysIn today’s world, more and more couples are drafting and executing prenuptial agreements before they walk the down the aisle. While each couple may have their own reasons for doing so, there are certain cultural trends that have made such agreements more necessary now than perhaps ever before. Research shows that young people are waiting longer to get married, which means that each partner is likely to have accumulated wealth or property prior to marriage, creating the need for financial discussion ahead of time.

Similarly, those who are considering getting married for the second or third time are well served by a prenuptial agreement. In these situations, a prenuptial agreement can be used to secure financial matters and to protect the inheritance rights of children from previous relationships.

Keeping It Reasonable

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prenuptial agreement, lifestyle clause, Illinois family lawyersAs we have recently discussed in greater detail in other posts on this blog, at-fault divorce is now a thing of the past in Illinois. No matter what you think your spouse may have done, a family court will only care about one thing: whether or not irreconcilable differences have caused the breakdown of your marriage. It has long been the case that marital misconduct cannot be considered by the court in proceedings for spousal maintenance or property division either. The court may, however, recognize a prenuptial agreement between you and your spouse that includes what are commonly known as lifestyle clauses, allowing the behavior of one spouse or the other to still affect divorce proceedings.

Infidelity Clauses

Despite the Illinois law prohibiting divorce on the explicit grounds of adultery, the most common type of lifestyle clause found in many prenuptial agreements provides for a penalty in the event one spouse cheats. Justin Timberlake and Jessica Biel reportedly have such a clause in their prenuptial agreement, and many other celebrity couples are thought to as well. If such an agreement is seen by the court as reasonable, whatever financial or property-related penalty upon which you have agreed may be enforced. This, howeer,

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maintenance, illinois law, Kane County divorce attorneyCertain aspects of divorce under Illinois law are relatively black-and-white. For example, virtually every divorcing spouse is entitled to an equitable share of the couple’s marital property, just like every child is assumed to have the right to financial support from both parents. Other aspects, however, can be more accurately described as falling into much more of a gray area, with ample room for court discretion and subjective considerations. Among the most prominent of these is spousal maintenance, which has long been a source of uncertainty and confusion for many divorcing couples.

Understanding the Purpose of Maintenance

It is important to realize that there no presumed right to spousal maintenance, sometimes called alimony, in the state of Illinois. Instead, it can be ordered by the court based on the examination of the circumstances of a marriage and divorce. Maintenance is intended to limit the extent to which a spouse will be financially disadvantaged by the end of her marriage. While a court may award a man spousal maintenance under the law, more than 95 percent of individuals receiving alimony are women. Decisions about support, though, are not always left to the courts.

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same sex, rights, Illinois family law attorneyFor most of this nation’s history, same-sex couples have not been given the opportunity to have their relationships legally recognized. While same-sex marriage was officially recognized nationwide earlier this year, for most couples, their relationship means more than a marriage license or a ceremony. It means a shared life together, complete with the rights to inheritances and property enjoyed by heterosexual married couples. A story in the New York Times this week, however, is a grim reminder of the struggles that so many faced for so long.

Partner Adoptions

The article recounts the story of a gay man from San Francisco who was living in New York in 1977 when he met a man with whom he quickly fell in love. The couple remained together for the next ten years until the death of one partner, the year before the words "gay marriage" appeared in the New York Times for the first time.

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inheritance, prenuptial agreement, Illinois Family Law AttorneyWhile many may view prenuptial agreements as necessary only for the rich and famous who stand to lose millions in divorce, the reality is much different. In fact, many marriage and financial experts recommend such agreements for all couples, especially those entering a second or subsequent marriage. In addition to outlining what is to happen with marital property in the event of death or divorce, can also be used to identify your own personal assets prior to marriage and establish a plan for their disposition as well.

Heirlooms and Inheritances

Consider a fairly specific, but not terribly uncommon scenario: For several generations, your family has passed down an item of both physical and sentimental value to the oldest child. This item previously belonged to your father, to his mother before him, and to her father before her. You inherited the asset prior to your marriage and long before you ever had children. Since the heirloom is an inheritance, and since it was acquired before marriage, it is not considered marital property by law. However, a prenuptial agreement can help you solidify the item’s status as personal property, retaining your ability to pass it down to your oldest child regardless of the state of your marriage.

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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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postnuptial agreement, finances, Lombard Family LawyerDespite the immeasurable amounts of research and advice available to married couples, financial issues continue to be among the leading causes for divorce in the United States. In fact, some experts estimate that nearly half of all American divorces are directly related to financial priorities and disagreements. Many couples looking to be proactive about money matters may decide to negotiate a prenuptial agreement prior to their marriage. Others, however, may not realize the need for such arrangements until well after their wedding day. For these situations, a postnuptial agreement may be the solution.

Recognizing the Need

Postnuptial agreements are often initiated by couples who are beginning to see signs of financial concerns but are dedicated to salvaging their relationship. Such concerns may be triggered by the success of failure of a business venture, health-related issues, or the advancement in age of both spouses, among many other factors. While being objective about family matters and the future may be difficult, doing so jointly and effectively can help unite a couple in their efforts to strengthen their marriage.

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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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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.

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retirement age marriageStatistics show that gray divorce – divorce for people who are 50 years old or older – has doubled since 1990. 60 percent who will decide to give marriage a second try will not have any better luck than they did the first time.

Legal and financial advisers say there are steps that older couples can take to help their chances of having a successful marriage the second time around, including communication and a prenuptial agreement.

Especially of concern for people who are close to or already retired are finances. According to some studies, the majority of couples who are engaged fail to discuss their present and future financial situations with each other before they are married. Communication before marriage is essential. This can be especially critical for older people who have been saving all their lives for retirement, only to find out their new spouse has serious financial obligations they knew nothing about.

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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?

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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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Posted on in Divorce

Sometimes people use acronyms to shorten a phrase or term. The following terms are commonly used in matters of divorce, especially when there are children involved. When you do not understand certain terms, ask your attorney. Knowledgeable divorce attorneys  take time to explain each aspect of the process and properly prepare you for the road ahead.

Illinois divorceWhat is a TRO?

A temporary restraining order (TRO) temporarily halts a specific type of activity. In a divorce, it is sometimes used to keep a party from selling off, donating or transferring ownership of marital property. Such orders are requested to handle emergent situations such as:

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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.

Assuming that prenuptial agreements are only being used by those individuals with extreme wealth is a mistake. A survey conducted by the American Academy of Matrimonial Lawyers demonstrates the increasing requests family attorneys are getting to draft these documents.

Of the attorneys surveyed, two-thirds reported seeing an increase in the number of prenuptial agreements completed in the past three years, but nearly half also noted that there are more women requesting the documents these days. The shift in awareness and requesting behavior could be due to a higher level of financial awareness on behalf of both men and women; being shaken by the recent economic collapse might clue people in to what they have to lose as well as make them more conscious about how to protect it.

The same attorneys participating in the survey remarked that the top three issues most often covered in prenuptial agreements were alimony, separate property, and division of property. Other recent research has indicated that more people believe that prenuptial agreements are a crucial component of pre-wedding plans, however unromantic they may seem.

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