Prenuptial Agreements/Estate Planning
Who are prenuptial agreements for in Illinois? Just about everyone, actually:
Young couples with nonmarital assets want clarity on who owns what.
People with kids from previous marriages need to know the ground rules about inheritance rights.
Older people getting married benefit from a plan discussing health care and estate issues.
At Feinberg Sharma, we see prenuptial agreements as a form of marriage insurance. If you end up seeking a divorce, it is wonderful to have common agreement going in. If you stay married for 60 years, it is still a comfort to know what the rules and responsibilities in the relationship are.
Clarify Your Understanding About Prenuptial Agreements / Estate Planning · Protect Your Interests
In Illinois, prenuptial agreements can resolve questions such as:
- Will you commingle your assets?
- What about individual debts going into the marriage?
- Do you keep joint or individual checking accounts?
- Who is responsible for filing taxes?
- If you live in a house acquired before the marriage, does it stay premarital?
- How will college for the kids be handled?
- What will each party inherit from the other?
- How does a prenuptial agreement affect estate planning arrangements?
- What will happen in the event of a divorce?
Prenuptial Agreements Have Strong Legal Standing in Illinois
If there is a divorce, prenuptial agreements are given a lot of credence by the courts in Illinois. Usually, the only way a prenuptial agreement can be set aside is if one side clearly did not understand what the document said, or if fraud, misrepresentation or duress occurred.
One precaution people take is videotaping the reading and signing of the final agreement. This ensures that both sides fully understand the meaning of this very useful contract.
Family Attorneys Serving Chicago and Chicago's North and South Shore
Arrive at a firm financial understanding before you get married. Contact Feinberg Sharma at 312-376-8860, or email us at email@example.com. FS, a team of divorce attorneys, advises and represents clients across Illinois.