Schaumburg Prenuptial Agreements Attorney

Skilled Cook County Prenuptial Agreement Lawyer

Prenuptial agreements, also called premarital agreements, are written contracts between two people who intend to be married. These contracts list each person's assets and debts and define each person's property rights should the marriage end in divorce or death. They may also spell out maintenance/alimony rights and obligations. The law governing prenuptial agreements varies by state. In Illinois, the Illinois Uniform Premarital Agreement Act governs these agreements. At Anderson Attorneys, P.C., we are experienced in assisting clients with drafting and negotiating effective and enforceable prenuptial agreements. We are also experienced in challenging and defending prenuptial agreements in divorce proceedings.

When You Need a Prenuptial Agreement

These days, more and more couples are choosing to obtain prenuptial agreements. It is no longer a practice reserved for the very wealthy. There are many circumstances in which a prenuptial agreement is recommended, including unions involving:

• High-value assets: People who are coming into a marriage with substantial assets will most likely want to make sure these assets will be protected and preserved. A prenup can make sure the assets a person owned before their marriage will remain separate property. This can ensure that a person's financial resources will not be at risk if they get divorced in the future.
• Prior marriages: A variety of issues related to a person's previous relationships may affect their new marriage, and a prenuptial agreement can make sure their rights and interests will be protected. For example, if a person currently pays spousal support to their former spouse, they may need to make sure they will continue to have the financial resources to do so during their marriage.
• Children from previous relationships: A person who has children will want to make sure they will be provided for. They may have planned to set aside certain assets to give to their children or address their financial needs, and they may be concerned that these assets could be at risk if something happens during their new marriage. A prenup can make sure certain assets will be used to address the needs of a spouse's children, ensuring that money or property will be distributed correctly in the event of a divorce or the death of a parent.
• Business interests, particularly family businesses: People who own businesses or are involved in enterprises related to their families will usually want to make sure these business interests will be protected, regardless of what may happen in the future. A prenuptial agreement can help avoid disputes over ownership of family businesses, ensuring that a business can remain intact if a couple ends up getting a divorce.
• Expectations of significant inheritance: A person who comes from a wealthy family may need to take steps to preserve the assets that may be passed down to future generations. A prenup can provide clarity over how inheritances or other assets received from family members will be handled during a couple's marriage, and it can protect these assets in the event of a divorce.

In all of these situations, it is often advisable to make plans to protect financial interests immediately and into the future. Under Illinois law, all property that is acquired during a marriage is presumed to be marital property and would be subject to equitable division in a divorce. If you wish to withhold any marital property from a property settlement in a divorce, a prenuptial agreement can help protect your rights and interests.

Effective Prenuptial Agreement Litigation

A properly drafted prenuptial agreement is an enforceable contract, but there are ways to challenge a prenuptial agreement and have it set aside. In order to do so, it must typically be proven that the agreement was either not entered into voluntarily or that the agreement was unconscionable. If a prenuptial agreement fails to disclose the full financial assets and obligations of one party, this can sometimes be used to help invalidate a prenuptial agreement. Our attorney has experience representing clients in litigation related to prenuptial agreements. Depending on the situation, we may be able to challenge the validity of a prenup or take steps to make sure the terms of an agreement will be enforced.

Contact Our Schaumburg, Illinois Prenup Lawyer

If you are considering entering into a prenuptial agreement or are involved in a divorce in which a prenuptial agreement is at issue, contact us at 847-850-8899 to schedule a free consultation. From our office located in Schaumburg, we serve clients throughout the Chicago area.