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Getting married is an exciting and joyful event any couple’s relationship. When a couple gets married, they promise to honor and love each other until death, and are excited to share the rest of their lives together. However, staying married forever is not the reality for some couples. Divorce rates in Illinois are currently declining, but divorce is still not uncommon in Illinois.
Even though marriage is a time to think about your future with your spouse, you should also think about protecting yourself in case that marriage ends. Prenuptial agreements, also referred to as prenups, are arrangements for the division of assets and finances if you and your spouse ever divorce. The agreement is signed by you and your spouse before marriage, and is presented during divorce proceedings to provide for a less complicated separation.
What is a Prenuptial Agreement in Illinois?
Illinois law specifies the requirements for prenuptial agreements in the Illinois Uniform Premarital Agreement Act. In Illinois, prenups must be in writing and signed by both spouses. The agreements go into effect once you and your spouse are married. The law also specifies what the parties to a prenuptial agreement can contract for, including:
In addition to these contract provisions, Illinois law allows parties to use prenuptial agreements to contract for almost anything. There are a few restrictions on prenuptial agreements. In Illinois, prenuptial agreements cannot:
Illinois allows prenuptial agreements to be amended after they have gone into effect. A prenup amendment must be in writing and signed by both parties.
Illinois Prenuptial Agreement Attorneys Can Help
Prenuptial agreements can be beneficial to all couples. Even though it is difficult to think about divorce before you are already married, it is important to protect yourself and your assets if you ever do get divorced. At Martoccio & Martoccio, we will work with you to create a prenup that will meet your needs. Located in Hinsdale, Illinois, our skilled prenuptial agreement attorneys have years of experience working with clients in DuPage, Cook, Kane, and Will Counties. Contact us today to begin planning for your future.