Chicago Prenuptial Agreements Lawyer
When you think of prenuptial agreements, you may think of a legal document that only rich couples would use before they get married. While wealthy people are more likely to use prenups, anyone can use one to protect their assets. There are no limitations based on wealth.
Prenuptial agreements are often seen as cold and heartless. Who discusses divorce before they’re even married? However, you may have seen that many celebrities have lost millions of dollars in divorces because they failed to get a prenuptial agreement. So they’re used as a form of protection, and let’s face it, a marriage is like a business deal.
You may be hesitant about getting a prenup, but by getting one, your assets will be protected should your marriage end in divorce. Think about your future. Contact a Chicago prenuptial agreements lawyer from Birnbaum Gelfman Sharma & Arnoux, LLC to see if a prenup is right for you.
What Does a Prenuptial Agreement Do?
A prenuptial agreement serves as a legal contract between the spouses. It can be used to make decisions about what will happen in the event of a divorce. For example, how will assets be split? Which assets do each party get to keep? Will there be alimony?
A prenup allows you to address obligations from a prior marriage, as well as protect your financial independence. Plus, if you do end up divorcing, it will make things easier. There will be less conflict and uncertainty because everything will be outlined in the prenuptial agreement.
What Are the Requirements?
A prenuptial agreement must be in writing and signed by both spouses in order for it to be valid. It can address most marriage issues except for child custody and support, as those topics are handled under state law. However, it can address property rights, division of property, alimony, wills and trusts, and life insurance benefits.
If the prenuptial agreement is drafted correctly, it will be enforceable in Illinois courts. However, there are a couple ways in which it can be invalid:
- The prenup was not signed voluntarily. The spouse may have been forced to sign the prenup or under duress.
- The agreement was grossly unfair to one party. A prenup must be fair and both parties must disclose all their assets before signing the agreement. Full financial disclosure includes discussing earned income, all property owned, and any debts that either party owes.
- The prenup forces one party to face undue hardship. This may occur when one party has significant assets and waives alimony to the other.
Contact Birnbaum Gelfman Sharma & Arnoux, LLC Today
A prenuptial agreement can be used by any couple in any financial situation to protect their assets in the event of a divorce. Is it appropriate for your situation?
Getting married? The experienced lawyers at Birnbaum Gelfman Sharma & Arnoux, LLC can help you draft a prenuptial agreement that fits your needs. Protect what’s yours. Schedule a consultation with a Chicago prenuptial agreements attorney by calling (312) 863-2800 or filling out the online form.