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Arlington Heights divorce attorneys prenuptial agreementWhen signing a prenup agreement, it may feel like divorce is the inevitable conclusion, but if a couple gets divorced without one, the parties go to court to decide the division of assets if mutual decisions cannot be made. Signing a prenup before marriage addresses many issues a couple may face if divorce occurs, as long as no one tries to break the agreement.

What is a Prenuptial Agreement? 

A prenup is an agreement two people make before they are married, which settles financial and other arrangements in case the marriage fails. A person might suggest getting a prenuptial agreement if:

  • He or she makes significantly more than the other partner.
  • Both are business owners or entrepreneurs.
  • One person has a high amount of debt.
  • They have been married before and/or have children. 

Prenups are best known for protecting premarital assets. Without a prenup, the financial burdens of your spouse may become yours, even after divorce. They are also used to determine alimony. Because they are private agreements, prenup terms can be tied to how long a marriage lasts. Clauses can be added such as a confidentiality to protect the details of your divorce or marriage from publication. 

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Rolling Meadows prenuptial agreement attorneyWhen you are engaged, there are so many things to talk about--the honeymoon, the dress, the reception--but one of the not-so-fun things that you should discuss is getting a prenuptial agreement, or prenup. Doing so may save you in the event your marriage does not work out.

What Is a Prenup?

A prenuptial agreement is a contract that a couple signs prior to getting married that lays out terms for how certain matters will be handled in the event of a divorce. The agreement may state how couples will split their finances, what each person owns coming into the marriage, and how property acquired during the marriage would be divided. A prenup can cover everything from debt to retirement funds and how those are allocated.

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