Put simply, a prenuptial agreement is a binding and enforceable contract that two potential spouses enter into and sign in anticipation of their upcoming marriage. A prenuptial agreement will usually spell out in detail what division of assets and property the parties agree to in the event one of the parties files for divorce. A prenuptial agreement can also specify whether one party will receive spousal support (also called alimony) from the other and, if so, in what amount and under what circumstances
While parties are free to include whatever (legal) conditions they wish, a premarital agreement must generally:
A prenuptial agreement that fails to meet these three basic requirements is in danger of being disregarded and set aside by a divorce court if the agreement is challenged in a divorce proceeding. Having legal representation during the drafting and signing of a prenuptial agreement can help insulate the agreement from such attacks.
Whether you’re interested in drafting a prenuptial agreement or your spouse has presented you with one, an experienced attorney can help you understand and protect your rights. A lawyer with knowledge of family law can look for any potential issues and help ensure that your prenuptial agreement contains the necessary language and requirements to protect your assets appropriately. While most prenuptial agreements stand up in court, it’s not uncommon for ex-spouses to challenge them, and drafting your prenup with the help of a local divorce attorney can help you prepare for and safeguard against potential legal disputes during the divorce.
Arami Law is committed to providing well-informed legal counsel to clients wishing to protect their assets through a prenuptial agreement as well as partners asked to sign a prenuptial agreement by their significant others.
Before you sign on any dotted line or rush down the aisle, allow one of our Chicago prenuptial agreement lawyers to help ensure that your “happily ever after” moment will not turn into a future “what was I thinking?” Contact Arami Law today for experienced assistance.
Under the Illinois Uniform Premarital Agreement Act (750 ILCS 10), a prenuptial agreement can address: property rights and obligations of each spouse; the right to buy, sell, manage, and control property; disposition of property upon separation, dissolution, or death; spousal maintenance — including whether it will be paid, in what amount, and for how long; the making of wills or trusts; and any other matter not in violation of public policy or criminal law.
One critical limitation: prenuptial agreements cannot adversely affect the right of a child to support. Any provision that attempts to limit child support obligations is void and unenforceable in Illinois courts.
Yes — Illinois courts enforce prenuptial agreements that meet the statutory requirements. A court will refuse to enforce a prenuptial agreement only if the challenging party proves: the agreement was not executed voluntarily; the agreement was unconscionable when executed AND there was inadequate financial disclosure; or the agreement was the product of fraud, duress, coercion, or misrepresentation.
Full financial disclosure is the single most important factor in ensuring enforceability. Both parties must have a complete, honest picture of each other’s assets, debts, and income. Arami Law ensures every prenuptial agreement we draft is supported by thorough financial disclosure and executed with the formalities that make it bulletproof in court.
Prenuptial agreements are especially valuable when: one or both parties own a business or professional practice; either party has children from a prior relationship; one party has significantly more assets, income, or retirement savings; either party expects a substantial inheritance; one party is entering with significant debt; either party has ownership in real estate or investments; or either party wants to define or limit spousal maintenance obligations. Start the process at least 60 to 90 days before the wedding to ensure adequate time for disclosure, negotiation, and review.
Already married without a prenuptial agreement? Illinois recognizes postnuptial agreements under the same general principles. These are commonly used when a spouse starts a new business and wants to protect it as separate property, when one spouse receives a significant inheritance, when financial circumstances change substantially, or when the couple wants to redefine financial expectations. Arami Law has extensive experience drafting both prenuptial and postnuptial agreements for Chicago-area couples.
Protect your assets before you say yes. Call Arami Law for a confidential consultation.
