A prenuptial agreement is meant to protect a person’s assets in the event of a divorce. Therefore, it is important that any agreement be fully considered and that it follows the guidelines. If it does not, it may be voided and unable to be enforced. Because prenuptial agreements carry such weight in Will County, it is important to understand them before creating one. A knowledgeable prenuptial agreement lawyer can help you understand these agreements and whether it is necessary for your relationship.
A prenuptial agreement is a written contract entered into by a couple who plans to marry. It attempts to create plans for each party’s finances in the event of a divorce.
Any agreement that is not unconscionable or includes custody issues is allowed. They can enter into agreements that would address alimony as well as who gets the house, cars, bank accounts, and retirement accounts. An attorney can help build an agreement that would be considered valid in Will County.
A prenuptial agreement is good for safeguarding assets. For example, prenuptial agreements are recommended for high net worth estates and for those who had a significant amount of money before the couple met.
If you have a significant amount of assets, a business, or kids, then creating a prenuptial agreement can protect those assets. If one party owns a business, a prenup could help ensure the new spouse has nothing to do with the business. Without a prenuptial agreement, the business would belong to the marriage, and the new spouse would have a right to it in the event of a divorce.
There is no magic formula for when a person should consider entering into a prenuptial agreement. When a person gets to the point where they are thinking of getting married, they should have a discussion with the other person about prenuptial agreements.
One common scenario where a prenuptial agreement could be voided is if a person is forced to sign it. An example would be the bride standing at the back of the church just before the wedding, and the husband asks her to sign the prenuptial agreement right then and there, with no time to review it. If both parties do not have time to fully review and sign the document willingly, it cannot be enforced.
The enforcement of a specific clause of a prenuptial agreement may also be void depending on the wording. In that situation, a single clause may be unenforceable, but everything else can be enforced.
It is important to understand prenuptial agreements in Will County before entering into one. This can include understanding what they are, when they are considered valid, and when you should consider an agreement. A well-versed attorney from Reidy Law Office LLC can answer any questions about prenuptial agreements you may have. For the help you need, call us today.