Prenuptial Agreements

Unfortunately in our society today, marriage unions are often broken. When divorce becomes the only option, couples often disagree concerning how a division of property should be made. One way to avoid the bulk of the potential legal costs and emotional toll is to enter into a prenuptial agreement before marriage.

A prenuptial agreement (also called a premarital agreement) is a contract between spouses that takes effect when they become married. The agreement can include the personal rights and obligations of each spouse, the disposition of assets, the rights to property, spousal support in the event of a separation or divorce, the making of a will or trust and the disposition of life insurance benefits. A prenuptial agreement can be very detailed or it can deal with only a few assets or obligations.

If you decide to draft a prenuptial agreement, you and your intended spouse should each hire an attorney who will aid you in understanding the agreement, the legal ramifications it has and the implications it will have in the future.

Prenuptial Agreements in Illinois must strictly comply with Illinois law. Any deviation from the law will likely result in an agreement which is unenforceable in court. Each party must have separate legal counsel, and there must be a complete disclosure of all assets and liabilities. Fortunato, Knobbe, Davenport & Arnold's knowledgeable attorneys have many years of experience in drafting Prenuptial Agreements, and will be happy to assist you in protecting your assets and negotiating a fair agreement.