Prenuptial And Postnuptial Agreements
Prenuptial agreements are a great foundation for any marriage. While these contracts have gained negative connotations over the years, our firm believes that they can really establish the groundwork for a positive union. At Ann O'Connell Law, Ltd., we work with couples who wish to establish premarital and postnuptial arrangements.
Understanding The Importance Of Agreements
A premarital agreement can help a couple work together to set the tone for their marriage. These arrangements require thought, honesty and detailed decision-making. Our attorney will guide couples through the process and help them understand what can and cannot be included and how to properly cover all bases.
Items that couples often include in their arrangements include:
- Assets and property brought into the marriage by each person
- How assets and finances should be divided in the event of divorce
- How certain bills will be paid throughout the marriage
- The protection of estates one or both parties may inherit
- Who will be liable for past, current or accrued debt
- What finances will be kept separate
- How retirement and pension plan contributions will be dealt with
- Financial interests of children from prior relationships
While our attorney believes that every union can benefit from a premarital agreement, there are certain situations in which an arrangement is especially valuable.
Special circumstances in which you will want an agreement:
- If one party is significantly wealthier
- If one party has significant debt
- If there are children from previous relationships
- If there are business interests to consider
Walking You Through Postnuptial Arrangements
As you and your spouse evolve as a couple and your circumstances change, you may consider creating a postnuptial agreement. This is a voluntary contract that can address an inheritance, new business interests, debts and finances that have changed. Illinois recognizes postnuptial arrangements that are drafted in accordance with the law. A skilled postnuptial and prenuptial agreement lawyer can ensure that your documents are drafted appropriately and legally.
Helping You Lay The Foundation For Your Future
If you are engaged or your circumstances have changed, contact us today. Call 847-859-5453 to set up a free consultation at our Evanston office. We serve couples in Cook County and Lake County. Let us help you lay the groundwork for an open and honest marriage.