A couple’s wedding day may very well be one of the happiest days of each partner’s life thus far. This happiness can be traced back to the fact that many months and sometimes years go into planning a wedding, often down to each minute detail. However, planning for a wedding and marriage are two entirely different things. Preparing for marriage can involve many responsibilities, few as crucial as preparing for the financial implications of getting married.
It is becoming more common for couples to negotiate and sign a premarital agreement or prenuptial agreement. These agreements are invaluable tools that spell out how a couple will handle debts, assets, and other financial issues if they decide at some point to get divorced. While some find these agreements to be “unromantic,” this is not the intention of such agreements. However, suppose you and your partner are considering marriage. In that case, it may be wise to consult with an experienced attorney trained in helping couples secure financial security and remove doubt about who will get what in the event of a future divorce.
Situations Where Couples Should Consider a Premarital Agreement
Under Illinois law, a premarital agreement must be in writing and signed by both parties. It is understandably difficult for many soon-to-be newlyweds to contemplate what a future divorce may look like. Nothing in this world is perfect, and preparing for the worst while hoping for the best is a healthy and wise way to prepare for whatever the future may hold. When it comes to premarital agreements, there are specific situations that can provide couples with a greater incentive to sign a premarital agreement....