Naperville Law Blog

In the past, many people in Illinois considered prenuptial agreements to be limited to those with generational family wealth or major celebrities. However, a growing number of people have chosen to negotiate a prenup before they marry, especially as more people choose to wed later in life or after developing a burgeoning career. More people bring property and children of their own to their marriages and may want the additional preparation and planning that a prenup provides. Some of the issues addressed by a prenuptial agreement may also arise after a couple has already married, however.

There are options to negotiate the financial aspects of a potential future separation even for people who are already married. Even more than prenups, postnuptial agreements may simply feel like divorce negotiations in advance or a sign of a troubled marriage. However, there are very practical reasons why some couples may want to consider a postnup. One partner may be in line to receive a substantial inheritance or family heirloom. While they want to share the benefits of their inheritance with their partner, their family may want to ensure that the assets remain protected in case of a divorce or separation.

As January begins, many people in Illinois throw away their old calendars without a second thought. If a person is involved in a child custody case, however, last year's calendar can be a key piece of evidence that shouldn't be discarded. Calendars contain evidence of a child's schedule, which may include vacations, sports trips, appointments and birthday parties.

Custody cases can be stressful for divorced parents. They often require assembling a lot of hard-to-quantify information. However, a calendar can help a parent to jog their memory if they are experiencing brain fog. Notes on a calendar that might seem like small details could become very important when trying to show how much child support is needed and how a custody schedule should be arranged.

Although prenuptial agreements are becoming more common in Illinois and throughout the country, there remain misconceptions regarding some of their basics. Initially, despite what once may have been the reality, prenups are not now exclusively a tool to be employed by the affluent. People are typically marrying later in life than they once did, which often corresponds with either or both of the partners owning a home or business before marriage. However, for whatever the reason a prenup is proposed, there are rules of construction that must be followed if it is to be considered a valid, binding legal document.

A prenuptial agreement can address a wide range of topics but a favorite issue involves one partner agreeing to accept less in the event of a split than would otherwise be likely to be awarded by a family court. It's important to remember that despite the fact that a prenup is a very specialized type of contract, it is a contract that must comport with contract basics. A seminal factor if the prenup were to come under judicial scrutiny is whether the parties were in equaling bargaining positions as they hammered out the specific contract details.

Some couples in Illinois may want a prenuptial agreement to protect them in case they get a divorce. This should not be a decision they procrastinate on making because preparing the prenup shortly before the marriage can make the document more vulnerable to challenges. It can appear as though one individual was coerced into signing it.

Both individuals will need to fully disclose their finances. A prenup is a good opportunity to get a thorough understanding of how the other person feels about money, and this is an important conversation for any couple to have. The prenup can establish what property will remain separate, including income, inheritances and real estate, and what will be considered shared. It will also outline how they will divide any shared property in a divorce. It can establish rules for spousal support as well.