Wondering if you should utter the words "Prenup" to your sweetheart? Or what to do if you hear this word that takes pre-wedding jitters up a notch? Here's a quick overview of what you need to know about Ilinois Prenuptial agreements.
First of all, it doesn't mean that you aren't confident about the marriage but rather as a couple, you want to be prepared for everything and anything that could conceivably come your way. Despite popular belief, prenups aren't only about planning a divorce before marriage but are also used as a way around how spouses are treated for inheritance purposes. Prenups are especially popular among people who are marrying later in life or who have kids from a previous relationship. With more people now marrying in their 30's and later, there's just more "stuff" coming into it. Virtually gone are the days when couples marry right out of school with nothing more than the clothes on their back and a head full of dreams.
Sometimes called an antenuptial agreement, the prenuptial (prenup) is a contract entered into that becomes effective once married. So many people see it just as one more thing to check off of the list before the wedding and just want to get it over with if they are going to do it. It is a mistake to not take it seriously. This means that if you want one, get it done right and go see a lawyer. Make sure that you discuss your goals and objectives; don't just sign some boilerplate document that you don't understand because prenups are not one size fits all. If your honey has started the process, please don't sign it without sitting down with your own lawyer! (re-read that sentence please. I said YOUR OWN lawyer). You really owe it to yourself to have it reviewed and make sure that you understand each and every provision you are signing. The harsh and horrible reality is that statistically, there is around a 50% chance that you will need it later and it is only your life that would be affected by the decisions you make now. If there is something that you don't like, there are options that you and your lawyer will honestly and openly talk about.
Timing is critical when it comes to prenuptial agreements! The process, if the agreement is to be legally upheld, should happen well in advance of the marriage and must be in writing. The prenup has to be voluntary, has to be signed and ideally, each of you should be represented by a lawyer familiar with them. Too many couples mess things up surrounding the prenup. As with all else in life, if you decide to do it, do it correctly and follow the rules.
You may also be interested in reading more in-depth about Prenuptial Agreements in Illinois which talks about the two conversations that you must have before getting married, or visiting our page dedicated solely to engaged couples and their needs at Legally Ready To Wed.
At O'Connor Cadiz Law, we help engaged couples make decisions about prenuptial agreements and understand the delicate nature of what you are about to do (or thinking of doing). We are located in Schaumburg and in DuPage County (Itasca). Let's talk.