How Do Illinois Postnuptial Agreements Work?

Illinios divorce lawyerMost people have heard of a prenup agreement and may be familiar with what one entails, yet many are unaware that there is a postnuptial agreement that can accomplish some of the same objectives. The main difference is that a prenup is signed by the parties before they get married, and a postnup is executed sometime after the marriage.

Examples of When a Postnup May Be Useful

Postnups can be used effectively in a number of circumstances:

  • If the parties wanted a prenup agreement but did not execute one before the marriage. Some couples find the concept of community property outdated where both spouses work outside the home.
  • If the parties are thinking about divorce and would like to determine how the property would be divided. This can save time and resources should the divorce go through.
  • If one of the parties would like to designate a new asset or debt as separate property. This can come up where one party unexpectedly learns of a sizable inheritance or where one spouse opens a new business.
  • If the spouses discover after getting married that they have significant disagreement over the handling of money.

Challenging a Postnup

If your ex is trying to enforce a postnup against you, there are successful arguments you may be able to raise in court to avoid being bound by the agreement. While every case presents its own strengths and weaknesses, if a postnup was entered into under duress or its terms are unconscionable or against the law, a court will not enforce it.

Postnups are heavily scrutinized by courts to make sure that the agreement honors both spouses’ desires at the time.

Contact a Hinsdale, IL Postnuptial Lawyer

If you or your spouse are interested in a postnup agreement, you should seek the assistance of a lawyer. Postnups require a thorough understanding of community property and contract law.

It is advisable for both parties to be represented by separate lawyers. Even if you are in total agreement with the postnup, you should still have someone looking out for your best interests from a legal perspective.

Most non-attorneys do not understand the all legal ramifications of a postnup and benefit from having these consequences explained to them. It is important to know what rights you are giving up. Call an accomplished DuPage County, IL postnup attorney at the Law Office of Martoccio & Martoccio at 630-920-8855 today to set up your initial meeting.

Sources:

https://www.forbes.com/sites/jefflanders/2014/10/16/how-key-portions-of-prenups-and-postnups-can-be-invalidated/#465adfb86d8a

http://www.ilga.gov/legislation/ilcs/ilcs3.asp?ActID=2102&ChapterID=59

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