Prenuptial and postnuptial agreements are critical legal tools under Illinois Law that can be used for many purposes before or during a marriage. These legal documents are contracts between a couple who plan to get married or are already married.
Spouses or soon-to-be spouses can use prenuptial or postnuptial agreements to establish rules about dividing property if there is a divorce. These agreements also can be used to address other divorce-related matters, such as alimony, and other types of matters such as the rights of a surviving spouse upon the death of the other spouse.
About Chicago Family Law And Pre-Nuptial Agreement Attorney Michael C. Craven
Family law attorney Michael C. Craven is a highly experienced Chicago divorce attorney named an Illinois Super Lawyer with the highest rating from the Martin-Hubbell Lawyer Rating System. If you have questions about a prenuptial or postnuptial agreement, please contact Mr. Craven today.
What Are The Benefits Of An Illinois Prenuptial & Postnuptial Agreement?
In Illinois, the law states that prenuptial and postnuptial agreements can be drafted to make provisions related to the following:
Asset Division
For many couples, the division of property and assets during a divorce is the primary reason for a prenuptial or postnuptial agreement. A spouse with more assets may want a prenuptial agreement to dictate how specific property will be divided if there is a divorce.
Reserve Specific Property
Many people in Illinois today enter marriage at an older age than in years past. This means you could already own considerable assets and property before marriage. Also, if you have inherited property these agreements are helpful to ensure it remains yours in a divorce.
Alimony
Prenuptial and postnuptial agreements can be used to determine if alimony will be paid after a divorce. If the agreement does not bar alimony, it can state the amount and what the duration and payments will be.
Inheritance For Children
Do you want to ensure your children from an earlier marriage receive an inheritance if you remarry? People who remarry often use a prenuptial or postnuptial agreement to ensure those children inherit all or some of their property after they die. For instance, a prenuptial agreement may ensure a family antique stays in the family or that the children receive a family home, even if there is a divorce.
Identify Non-Marital Property
If you own a business or professional practice, the divorce court could consider it property to be divided in part or whole in a divorce. So, business owners often use these agreements to identify their practice or business as non-marital property that is awarded to them in a divorce.
Issues A Prenuptial Or Postnuptial Agreement Can Address
These agreements can address any or all of the following:
- Whether one party pays the other spousal support after divorce, including how much and duration.
- Each party’s ownership of property after a divorce.
- Each party’s right to sell, transfer, use, manage, or dispose of property.
- Each party’s obligation to leave the other property upon death.
- Each party’s ownership rights of the death benefit from the other spouse’s life insurance.
- Which state laws apply to the contract if there is a dispute.
The prenuptial or postnuptial agreement can be amended by agreement of the parties. However, the changes must be in writing and signed by both parties, but postnuptial agreements have more stringent requirements. Spouses also may revoke the agreement by stating their intentions in writing and signing it.
What About Child Custody And Child Support?
Prenuptial and postnuptial agreements cannot decide child custody and child support. Issues related to support, custody or other child-related issues need to be approved by a judge who must decide if the parents’ agreement meets the legal standards and is in a child’s best interest.
How To Create A Legally Valid Agreement
For a prenuptial or postnuptial agreement to be enforceable in Illinois, it must be in writing and signed willingly by both parties. If there is manipulation or coercion, the agreement is invalid. Other reasons that the contract may be unenforceable include:
- The agreement’s financial terms would make one party eligible for public assistance.
- The agreement terms are severely unjust or unfair.
- The spouse did not receive honest financial information from the other.
- A spouse signing the agreement under duress or coercion.
- The agreement is otherwise unconscionable.
Generally, for the agreement to be unenforceable because of duress, it is insufficient for one party to tell the other that there would not be a marriage without an agreement. For duress and coercion, courts may deem the period between the receipt of a prenuptial agreement and when the marriage occurred important in determining if either party was forced to sign.
Does Signing A Prenup Mean You Plan To Divorce?
Some couples may be concerned that signing a prenuptial or postnuptial agreement means they plan to divorce. However, planning for a worst-case scenario is something that responsible adults do in many areas of life. If you drive a car in Chicago, you probably have auto insurance. Does this mean you are an unskilled driver or intend to get into an accident? No.
It is estimated that more than 50% of married couples divorce. Just as a responsible person is prepared for getting in a motor vehicle accident or having a health problem, it is wise to be prepared for a divorce. Just because you sign a prenuptial or postnuptial agreement does not mean you do not love your partner or have doubts about the union.
Also, drafting a prenuptial or postnuptial agreement gives each party a clear understanding of the other’s assets and finances. Money-related quarrels are among the most common divorce causes, so getting both parties’ finances clear on paper is good for the health of the marriage.
Contact Our Chicago Pre-Nuptial Agreement Lawyer For A Confidential Consultation
Michael C. Craven is a highly-rated family law attorney in Chicago who can assist with prenuptial and postnuptial agreements. As an experienced Chicago family law attorney, Mr. Craven can draft a legally enforceable prenuptial or postnuptial agreement, so contact our Chicago legal office today by calling (312) 621-5234. Your consultation is strictly confidential.
(Updated 7/27/2023)
