Pre & Post Nuptial Agreements
Pre & Post Marital Agreement Lawyers Serving Kane, Kendall & DeKalb Counties
While the idea of marriage is certainly perceived by many to be a romantic notion where love trumps all, it is important to note that there are a great many legal issues that stem from marrying someone. Depending upon the state in question, for example, you will share both debt and income with your spouse as well as property. That means that you could end up losing valuable family heirlooms or expensive items simply because you were married to someone at some point. Pre and post nuptial agreements can help change this likelihood.
Pre and post nuptial agreements are essentially contracts that preemptively lay some ground rules regarding things like the division of property should a marriage be dissolved. A few decades ago, pre and post nuptial agreements were the norm for very few people. In fact, there was a relatively small portion of the population that even felt the need to consider them – individuals with an excessive amount of wealth, for example, often found it beneficial to invest in a prenuptial agreement protecting their assets should the marriage in question fail. Given recent changes governing these contracts, however, these agreements now make sense in a great variety of situations.
Are you considering investing in a prenuptial agreement or a post nuptial agreement? If so, you might want to consider contacting an experienced attorney. In fact, pre and post nuptial agreements can be difficult to enforce if they are not properly written and authorized, which means that failing to invest the help of a knowledgeable attorney who will do everything in their power to craft a solid and enforceable can lead to disappointment in court when the agreement is found to be invalid. At Van Der Snick Law Firm, LTD we understand the importance of creating a valid pre or post nuptial agreement that works for your needs while adhering to the strict rules put in place by the court system.
Why the sudden increase in pre and post nuptial agreements?
As briefly mentioned above, pre and post nuptial agreements used to be thought of as useful only to the very rich. Today, they are becoming fairly common among even young and unestablished couples. The reason for this is perhaps surprisingly simple: today’s couples tend to be more focused on creating their own way and acquiring their own assets more than at any time in the recent past. This is influenced by a great variety of things. The increasing number of women in the workplace as well as couples waiting until a bit later in life to marry can all result in situations where the parties in question each have assets they want to protect in the event of a divorce.
To put it simply, today’s couples are thinking ahead even when in the “honeymoon phase” of their relationships. They understand that marriage doesn’t necessarily last forever, and want to protect their assets and the things they have worked hard to acquire or create. This leads to an increasing desire to ward against any future loss should their marriage dissolve.
Why are pre nuptial and post nuptial agreements important in Illinois?
In Illinois, a new divorce law as recently enacted that states that debt and assets that were acquired before the marriage are not considered to be marital property, and are not up for division in the event of a divorce. This law does a couple of different things that affect the average citizen. First of all, it means that you can get married without worrying that any debt or assets acquired before marriage will be considered marital property. This is perhaps great news if you do not want to divide said property in the event of a divorce.
What happens, however, to the couple that acquires a lot of assets together prior to marriage? A home or a car, for example, are common assets that individuals tend to make, and often times these purchases are made before a marriage takes place. This creates an issue under the new law, then, as these joint-expenses would not be considered marital property.
A pre or post nuptial agreement essentially helps you determine what is and what is not marital property. This helps make things like division property during divorce proceedings easier than it might otherwise be.
Difference Between Pre and Post Nuptial Agreements
Pre nuptial agreements are agreements that are created and authorized prior to a marriage taking place. Post nuptial agreements, as the name implies, are similar contracts that take place after a marriage has taken place.
Contact Van Der Snick Law Firm, LTD For Help w/ Pre & Post Marital Agreements
Are you interested in creating an enforceable pre or post nuptial agreement that will help you protect your assets in the event of a dissolution of marriage. For more information about the agreements and how they can help your situation, contact Van Der Snick Law Firm, LTD today!