Top Reasons Engaged Couples Create Prenuptial Agreements in Will County

 Posted on March 07, 2023 in Divorce

 Prenuptial agreements are becoming increasingly popular among modern couples. While not exactly romantic, creating a prenuptial agreement can be a responsible decision before getting married. Here are five reasons to consider getting one.

Prenuptial Agreements Can Protect Your Assets

A prenuptial agreement can assist in protecting your assets in the case of a divorce. When two people marry, their financial affairs become entwined, and any assets or money acquired by either spouse during the marriage are added to the marital estate. Any assets in the marital estate are distributed between the spouses in the event of a divorce. Your assets can remain segregated if you enter into a prenuptial agreement. Property classified as non-marital property through a prenuptial agreement will not be split. A prenuptial agreement can also be used to safeguard inherited assets or gifts from relatives and ensure those items stay in the family.

Prenuptial Agreements Can Protect Your Business

A prenuptial agreement can aid in protecting your company in the case of a divorce. In a divorce, businesses are treated just like any other asset. Without a prenup, your company can be considered marital property, giving your spouse a claim to a portion of its value. 

Define Spousal Maintenance Terms in Your Prenuptial Agreements

Spousal maintenance conditions might also be included in a prenuptial agreement. Money that one spouse pays to the other during or after a divorce is referred to as spousal maintenance, often known as alimony. In Illinois, spouses are free to agree on their own spousal support obligations. If the couple is unable to agree, the court will decide how much each spouse will be required to pay the other. By outlining the terms of spousal maintenance in advance, a prenuptial agreement can make the divorce process much more straightforward. 

Encourage Honesty and Transparency

Financial disclosure is an essential element of any prenuptial agreement. Spouses who draft prenuptial agreements are typically more forthcoming and truthful about their financial situations. This openness can help avoid disagreements about money later in the marriage. Also, it can support married couples in making wise financial decisions.

Contact a Will County Divorce Attorney

If you're considering a prenuptial agreement, contact a Naperville prenuptial agreement lawyer at Law Office of Ronald L. Hendrix, P.C., together we can draft or modify your prenuptial agreement. Call 630-355-7776 to set up a free consultation.

Source: 

https://www.ilga.gov/legislation/ilcs/ilcs3.asp?ActID=2087&ChapterID=59