Any engaged couple with personal assets or business assets should take the time to fully understand the benefits of Illinois prenuptial agreements. Divorce can bring about hard feelings, animosity, and spitefulness. The most basic prenuptial agreement will simply list all premarital assets that remain with each person if they divorce. By minimizing the potential points of contention and areas of possible dispute in a divorce, prenuptial agreements help maintain healthy communication and civility during what can be a highly stressful time. That is especially important for any couples planning to have children. The following are some other important things any person considering marriage should know about Illinois prenuptial agreements.
(Article continues below Infographic)
Begin with fairness and understanding
Top Chicago divorce lawyers agree that far too many couples begin their marriages with misconceptions and misunderstandings about the other person because they fail to openly discuss important matters. It is understandable that couples in love want to maintain that intoxicating feeling. However, reality and the mundane responsibilities of daily life will eventually enter the relationship. An Illinois prenuptial agreement can help ensure new marriages start on a solid foundation of understanding and respect. It does not have to divide assets up 50/50, but it should be fair to both parties.
Prenuptial agreements can’t limit child support
The Illinois Uniform Premarital Agreement Act clearly states that the right of receiving child support can not be adversely affected by any premarital agreement. Illinois prenuptial agreements can’t determine the amount of any potential support payments and can’t be used to limit the visitation privileges of either spouse. Premarital contracts do not establish child custody in the event of a divorce. All couples going through divorce should work together on matters that are in the best interest of the children. A clear prenuptial agreement can help couples maintain a positive relationship after a marriage has ended.
Prenuptial agreements for older couples
Many people associate prenuptial agreements with celebrities or wealthy business owners. They are helpful for any couple at any income level. Although these premarital contracts may have a negative connotation to idealistic young couples, older individuals who have been married before especially need to consider the value of taking steps to protect their children and assets. Couples who have been married before or bring children to the relationship should consult with top Chicago divorce lawyers about how best to keep separate property separate, deal with separate bank accounts, and prepare for financial stability in their later years.