Considering Prenuptial Agreements in Illinois

 Posted on July 09,2014 in Divorce

Getting married is often listed as one of the most profound experiences a person can have in any lifetime. The happiness associated with the occasion makes it very difficult - if not impossible - to consider that your relationship may erode over time. Divorce statistics have been on the rise in the United States for quite some time, making it critical to head off any potential problem before it even arises by consulting an Illinois attorney.

The process of divorce is adversarial by nature, lending itself to conflict that can affect more people than just the two parties involved. Children can very often be those who are negatively impacted the most by the fighting often involved with splitting up a marriage. And finances are normally the dominant issue. However, having a prenuptial agreement in place can make the divorce process much less stressful, in addition to providing the benefit of a legal document that outlines parameters beforehand.

The idea of a prenuptial agreement is not very appealing to many engaged couples or newlyweds, but it is irresponsible to ignore the many benefits the document provides. Consider the following list of ways a prenuptial agreement can serve as insurance, financially and socially:

1. Outlining of assets: Part of the prenuptial agreement process involves listing all personal assets each party is bringing into the marriage and quantifying them. This legal document, drawn up by a family law or divorce attorney, directly outlines which party will get what assets.

2. Provisions regarding alimony: Alimony is one of the largest issues in any divorce, especially if one party earns a substantially higher salary than the other. A prenuptial agreement can limit or ensure the alimony payments based on individual criteria are laid out by the involved parties.

3. Assumption of debt: As with assets, prenuptial agreements state the amount of debt in which each party enters the marriage, and subsequently states how much they will be responsible for incurring should the marriage dissolve.

Times are not what they used to be, and divorce no longer carries the negative connotation it once had. By this same logic, there is no reason not to take advantage of the benefits that a prenuptial agreement can provide - even if it just for peace of mind. Illinois law governing prenuptial agreements mandates that both parties retain legal counsel to draw up the document, as well as enforce it.

When drawing up, enforcing, or updating an existing prenuptial agreement - in addition to many other comprehensive family and divorce legal services, do not hesitate to contact the professionals at Stock, Carlson & Asso. LLC. Serving clients in the greater Cook, Lake, and DuPage County, Illinois area, we strive to provide the utmost care to each case.