Prenuptial & Postnuptial Agreements
Settling the Issues to Avoid Disputes
While many people do not give much thought to making a prenuptial or postnuptial agreement, these agreements can provide predictability and minimize disputes within a marriage. They can also assist in the estate planning process.
A prenuptial agreement, a premarital agreement and an antenuptial agreement are all interchangeable terms used to describe an agreement between parties contemplating marriage, which defines how they will protect and preserve their financial affairs during the marriage, in the event of a future divorce and/or upon the death of one of them. Every pre-nuptial agreement is unique, because the circumstances of every married couple is unique.
Our attorneys at the Steele Law Firm have the background necessary to prepare and review prenuptial agreements. These agreements can be important when one or both partners:
• Have significant assets
• Have a business or professional practice
• Wish to protect assets for children of a prior marriage
• Anticipate a sizable inheritance in the future
Why Get a Prenuptial Agreement?
There are many potential reasons for entering into a pre-nuptial agreement. A prenuptial agreement provides some predictability and minimizes disputes in the event the marriage later fails. Prenuptial agreements may also encompass the decisions made in estate planning, to provide some predictability in the event of a death of either spouse.
The parties can put a waiver or limitation of future spousal support into the agreement. If they do, that part of the agreement can be reviewed by a court. If the waiver or limitation is found to be unconscionable by the judge, the court can decide to award spousal support in the amount it rules appropriate. However, all other parts of the premarital agreement would be likely left intact.
While many things can be included in the agreement, some things, such as future child support, may be difficult or impossible to include.
Cohabitation Agreements
Domestic partners or couples who live together without being married may want a formal agreement to avoid later misunderstandings or disputes about their financial obligations to each other, the treatment of jointly acquired assets and other issues. These agreements are equally important when there are same-sex unions or civil unions involved. Our attorneys at the Steele Law Firm have prepared and/or reviewed cohabitation agreements for a number of affluent citizens of the state, and people of more modest means who simply want to provide some predictability for themselves, their partners and their financial futures.
What Is a Postnuptial Agreement?
Even if no prenuptial agreement was prepared prior to the marriage, parties sometimes want to formalize agreements as to assets, liabilities and the like during a marriage even though no divorce is anticipated. Those agreements are commonly called marital or postnuptial agreements.
Anything that can be included in a prenuptial agreement can be included in a postnuptial agreement after the couple is already married.
Such an agreement might be appropriate if one party contemplates a risky business venture and the other spouse does not want to share in that risk. Such an agreement is also sometimes used to formalize commitments as to financial planning.
The attorneys at the Steele Law Firm have prepared and/or reviewed marital agreements for a number of clients who want to provide predictability for themselves, their spouses, and their financial futures.
Contacting an Illinois Prenuptial or Postnuptial Agreement Attorney
If you are looking for an Illinois attorney to draft or review your prenuptial or postnuptial agreement, contact us or give us a call today at (312) 893-5888 or 1-800-DIVORCE (in Northern Illinois) to learn more about how we can help you or to set up a FREE consultation.
We Can Assist You With:
• Matrimonial Law
• Family Law
• Divorce
• Domestic Relations
• Dissolution of Marriage and Legal Separation
• Litigation in Trial Courts
• Negotiated Settlements
• Alternative Dispute Resolution, such as Collaborative Law and Mediation
• Appeals to Reviewing Courts
• Financial Discovery and Analysis
• Property Division
• Retirement Benefits
• Qualified Domestic Relations Orders (QDROs)
• Paternity
• Adoption
• Child Custody, including Joint Custody and Sole Custody
• Child Visitation
• Child Support
• Child Abductions
• Maintenance, formerly known as Alimony
• Spousal Support
• Marital Settlement Agreements
• Premarital Agreements
• Postnuptial Agreements
• Annulments
• Domestic Violence
• Post-Decree and Post-Judgment Issues and Modifications
• Restraining Orders
• Separation Agreements
Steele Law Home | Attorney Profile | Steele Law Firm Overview | Practice Areas | Divorce and Family Law | Resources | Contact Us
DISCLAIMER: This web site does not constitute an attorney/client relationship and this website does not give legal advice
STEELE LAW FIRM, LLC
Phone: 312-893-5888
Toll-Free (in Northern Illinois):
1-800-DIVORCE
Office Locations:
Downtown Chicago
161 N Clark St., Suite 3200
Chicago, IL 60601
Naperville
2135 CityGate Ln, Suite 300
Naperville, IL 60563
