Prenuptial Agreements in Illinois

A Prenuptial Agreement sets forth financial responsibilities and debts are managed during a marriage and if a divorce occurs. Numerous issues are addressed in prenuptial agreements such as:

• Division of Property
• Asset Allocation
• Maintenance (spousal support)
• Division of Debts
• Death benefits

Prenuptial Agreement Requirements

A prenuptial agreement must be in writing and signed by both parties. Each party must freely and voluntarily enter into the prenuptial agreement free of duress from the partner or others. While a prenuptial agreement is signed before marriage, it does not take effect until the marriage occurs. A full financial disclosure has to be completed by each party and shared with the other person. This includes debts and assets, bank accounts, retirement accounts, and any property owned.

A prenuptial agreement should not be unconscionable, meaning, it is so far one sided that it would be unfair to the other party. It is also important to have legal representation on both sides. Even if one spouse hires an attorney to draft the prenuptial agreement, the other party should hire an attorney to review it to make sure you understand what you are signing. Just like other types of contracts, a prenuptial agreement is a legally binding contract, and having a family law attorney review it is imperative. At Villadonga & Villadonga Attorneys at Law, we can review the prenuptial agreement and advise of the legal ramifications.

Can a Prenuptial Agreement be Modified?

Yes, a prenuptial agreement can be revoked or modified if signed and agreed to willingly by both parties. Otherwise the terms remain in effect. Spouses can also enter into what is called a postnuptial agreement where after the parties are already married, they can set out terms to adhere to if one party were to file for dissolution of marriage.

Child Support and Custody in a Prenuptial Agreement

A prenuptial agreement cannot waive or prevent a spouse from receiving or paying child support. As public policy, children need to be provided for, and no agreement regarding child support payments can be determined in a prenuptial agreement. Likewise, child custody arrangements should also not be included in a prenuptial agreement. Limitations can be placed on the amount of maintenance (formerly known as alimony or spousal support) a spouse can receive upon divorce. However, there can be caveats to this as well.

Why get a Prenuptial Agreement?

While some think a prenuptial agreement means you do not trust your soon to be spouse, it can ease the fears of what would happen if you were to get divorced. Many people feel more comfortable having a plan in place. Contact Villadonga & Villadonga Attorneys at Law today to discuss the benefits of having a prenuptial agreement for your specific situation.

Contact Us for a Prenuptial Agreement 

If you need a prenuptial agreement drafted or reviewed, contact Villadonga & Villadonga Attorneys at Law today at 847-298-5740.

The contents contained herein are simply a synopsis of the law and is by no means a full rendition of the law or what will happen in your case. Use of this website does not create an attorney-client relationship between the user and Villadonga & Villadonga Attorneys at Law. While this site contains information about legal issues, it is not intended to be  legal advice or or a substitute for advice from an attorney.