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Prenuptial agreements can simplify family law proceedings

| May 13, 2020 | Uncategorized

Some studies indicate that nearly half of all marriages in Illinois and across the country end in divorce. If something had a 50% chance of happening, wouldn’t it make sense to prepare for that event? In essence, this is exactly what a prenuptial agreement does. Due to stereotypes, the word “prenup” often strips the romance right out of a marriage. But here’s why a prenuptial agreement can make the family law proceeding of divorce less complicated.

Prenuptial agreements can shorten and simplify the sometimes complex divorce settlement process. In this process, each party has to prove in court the assets that he or she had before the marriage and what assets were brought into the marriage. A prenuptial agreement typically provides a list of premarital assets, which can help streamline the settlement process should a divorce occur down the line.

In Illinois, the law is fairly clear about what is and isn’t a marital asset. However, a prenuptial agreement can override state divorce laws, which gives spouses the option to make special stipulations if they choose to do so. Prenups are also recommended for those who have children from a previous relationship. In the event of divorce or death, a prenup can detail how an estate will be divided among children and a surviving spouse.

Prenuptial agreements can be very useful, but the terms of these agreements are often diverse and very broad. Those in Illinois who have questions about prenuptial agreements may want to consider seeking professional assistance. An experienced family law attorney can provide guidance and help draft an agreement that best reflects a couple’s needs and desires.