Premarital Agreement Lawyers Chicago

Premarital agreements have gotten something of a bad reputation, but this reputation is ill-founded. The fact is that a premarital agreement is nothing more nor less than a legal contract that goes into effect when a couple marries. The premarital agreement (often called a prenuptial agreement or prenup) addresses issues that are specific to the couple that could arise in the event of a divorce, but it does not make divorce more likely. If you have concerns related to a premarital agreement or you think you may need a prenup, don’t hesitate to reach out to an experienced premarital agreement lawyer in Chicago. 

Issues Addressed

Generally, prenuptial agreements address financial issues. When a young couple marries before they’ve begun building their careers – and perhaps before completing their education – there might not be a need for a prenup unless there’s a considerable inheritance or trust fund involved. When couples are more mature – and have more complicated financials and/or extenuating circumstances involved, a premarital agreement can play an important role. The issues that prenups address relate to financial matters only and cannot speak to child custody arrangements or child support unless the amount exceeds the amount ordered by the state. 

Reasons for Seeking a Prenup

Your prenup allows you to set the terms regarding your property rights prior to marriage – in a preemptive effort to forestall a contentious battle in the event of divorce but also in an attempt to find a middle ground that both spouses are comfortable signing off on. Although every premarital agreement is unique to the couple and the situation involved, the most common reasons for seeking a prenup include:

• Separating One’s Finances – If one of you has considerably more wealth than the other or owns a business, a prenup can help keep these matters separate within the boundaries of the law. While the spouse with greater finances may be required to pay alimony in the event of divorce, the prenup can define the terms. Further, while any increase in the business’s value is likely to be marital property, your premarital agreement can help solidify the separate nature of the business.
• Protecting a Spouse from Debt – If one of you has considerably more debt than the other (due to a prior divorce, business ownership, or anything else), a prenuptial agreement can help keep this debt separate to help ensure that the one spouse doesn’t incur half of the other spouse’s previous debt, if the marriage does end in divorce. 
• Protecting Your Children’s Inheritance – When children from other marriages are involved, a premarital agreement can help you protect their inheritance. In fact, these agreements are commonly used in conjunction with estate planning. 

An Experienced Premarital Agreement Lawyer in Chicago Can Help

If you have questions or concerns about a prenup, the dedicated Chicago premarital agreement lawyers at The Law Offices of George M. Sanders have an impressive amount of experience helping clients like you implement robust premarital agreements that uphold their rights – without jeopardizing their marriages from the outset. We can help, so please don’t hesitate to contact us for more information today.