Does our Illinois Prenup have to list our income, assets and finances? What if I don't care?

Yes. Each party to an Illinois Prenuptial Agreement must disclose his or her financial picture. This will usually include disclosing how much money each person makes at the time of marriage and a list of assets with their present value or worth.  This list often includes retirement accounts, bank accounts, investments, real estate and other valuables. I often hear people tell me that they don't care, perhaps out of fear as being perceived as being a gold digger, especially when marrying someone who is financilly well- off. Nothing could be furhter from the truth. Finances and assets have to be disclosed because by signing a prenup, you are about to enter into a legally binding contract. For a contract to be valid, people have to be able to make an intelligent decision about what is being signed. Only by having a complete picture of what each person comes into the marriage with, is that possible. Make sure that both yourself and your soon to be spouse has completed such a statement, if you want your prenuptial agreement to work. Other critical aspects to the Illinois Prenuptial agreement are its timing and having your own lawyer

Carol O'Connor Cadiz
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Attorney & Owner at O'Connor Cadiz Law: Bankruptcy, Injury, Real Estate & Mediation