“A prenuptial agreement is a common way for a couple to codify their intent prior to marriage regarding a variety of rights and obligations that could arise under the enjoyment or termination of their marriage.” In Illinois, the Illinois Premarital Agreement Act governs a prenuptial agreement. There are many formalities that have to happen in order to file for a prenup. First of all, a prenuptial agreement according to the Illinois Uniform Premarital Agreement Act has to be in writing. There does not have to be an exchange of assets or losses for the agreement to be enforceable. Once the marriage has occurred, the agreement begins. It can only be modified or evoked if both couples give consent in writing.
In Illinois, an agreement can cover just about anything that is not criminal, doesn’t affect public policy, or is not harmful to their children’s right to support. It can include any rights and obligations regarding any or all property that is held by the spouse at any time. The division of this property can come from divorce, separation, death or any other event.
In Illinois, a prenuptial agreement will not be enforced if it was involuntarily or was unconscionable at the time of the contract and the subsequent party did not have reasonable knowledge of the other party’s property and obligations, and did not receive reasonable disclosure. An elimination or modification of spousal support that becomes a burden to the opposing party will not be enforced.
If you and your future spouse are looking to sign a prenuptial agreement, call a lawyer that will able to help you and your partner come up with the best possible agreement. Contact an experienced Illinois Prenuptial Lawyer today.
Image courtesy of Ambro/Freedigitalphotos