Even in the best circumstances, marriage is often a challenging experience. Spouses learn many lessons from each other and from the marriage itself, and along the way disagreements are certain to arise. When they do, a postnuptial agreement might be the best way for you to formally settle them. Whatever your reason for considering a postnuptial agreement in Will County, our skilled attorneys could work with you throughout the entire process.
Postnuptial agreements, much like their prenuptial cousins, must meet certain requirements to be enforceable. Understanding some of the basic requirements for a postnuptial agreement may help you determine whether one is right for you and your marriage.
Over the course of your marriage, many things can change: jobs, kids, assets, and even feelings. One reason couples often create postnuptial agreements is to help them work through problems with these or any other components of a marriage. For instance, if you and your spouse are worried about specific assets acquired during your marriage, then creating a postnuptial agreement regarding how those assets will be handled in the event of a divorce may help you feel more secure.
Postnuptial agreements are sometimes used to address undesirable behavior as well. Postnuptial agreements cannot be used to force anyone to do anything, nor to justify illegal activity, but they can be a way of setting out clear expectations for both partners in a formal manner.
Alternatively, if you and your spouse are considering or actively pursuing divorce, creating a postnuptial agreement could expedite the divorce process, saving time, money, and energy by establishing the finer details of the divorce all in one agreement.
Like prenuptial agreements, postnuptial agreements must be in writing and signed by both parties. Neither party can be coerced into signing it or be forced to sign under duress, or the agreement will be considered invalid.
Postnuptial agreements can be used to determine how assets acquired individually and jointly during a marriage will be divided.They can also include arrangements for child custody and related matters, but the court will still review these topics and ensure that the best interests of the child are being met. A postnuptial agreement cannot be used to modify child support payments.
It is often easy to overlook certain things like retirement accounts, life insurance policies, or other benefits-related considerations that can be an important part of a postnuptial agreement. Postnuptial agreements can be complicated, so it is important for both parties to ensure they are advocating for their rights and not giving away important rights or concessions that could adversely affect them.
When negotiating a postnuptial agreement, both you and your spouse should have separate legal counsel to help ensure that nuances within the law are adhered to and that the postnuptial agreement is enforceable.
Postnuptial agreements can have significant financial consequences for both spouses, and may also have serious implications for both you and your spouse if certain key factors are overlooked.
These agreements can certainly be intimidating, but they do not have to be. Our firm is committed to helping you better understand the basics of a postnuptial agreement and what one might mean for you.
If you are considering a postnuptial agreement in Will County or have any related questions, please call our firm today for a free initial consultation with a dedicated postnuptial agreement lawyer.