Contact Us

Warning: count(): Parameter must be an array or an object that implements Countable in /home/ocvhgcloud03/public_html/domain_bknlaw.com/components/com_easyblog/views/categories/view.html.php on line 306

prenuptial agreement, Kane County family law attorneyIt is hardly uncommon for a couple who is about to get married to spend weeks and months planning a perfect wedding day. Music, flowers, decorations, dresses, food, and dozens of other considerations are often set months in advance. Too often, however, that same couple will spend considerably less time and energy preparing for the marriage itself. Even partners who decide that a prenuptial agreement is appropriate for their situation often wait too long and are then forced to rush one spouse or the other into signing the agreement. Such pressure is not only unhealthy but can also lead to future problems in enforcing the agreement should the need ever arise.

Serious Decisions

Marriage, in the eyes of the law, is a legally binding contract between two consenting individuals that affords each party certain rights and responsibilities. A prenuptial agreement is very similar, in that it represents a contract between two parties, outlining property rights and other considerations to become effective in the event of a divorce or another designated precipitating event, such as infidelity or the death of one party. As such, a binding contract deserves careful consideration, not just casual approval of its terms.

...

prenuptial agreement, Kane County family law attorneyOwning a business can be an extremely satisfying and profitable venture. It can also be a tremendous amount of work, often requiring years of dedicated effort before you begin to the see the financial fruits of your labor. If you own a successful company, you should be very proud. Like most business owners, you have probably taken a number of steps to protect your business: you most likely have insurance policies and financial reserves in case of an emergency. However, you may also want to consider protecting your company against the possibility of divorce, especially if you are planning to get married after the business is already established. A prenuptial agreement can provide the security you need and the peace of mind you deserve.

Complex Property Laws

Illinois law regarding the division of property in a divorce seems relatively simple. Any property acquired by either spouse during the course of the marriage is considered marital property, with very limited exceptions for gifts and inheritances. Assets that were acquired before the marriage are not marital property and, therefore, are not subject to division should the spouses divorce. Business ownership, though, tends to blur the line between marital and non-marital property.

...

prenuptial agreement, child support, Kane County family law attorneyFor many couples considering marriage, a prenuptial agreement can be a valuable tool. Such an agreement can address a wide range of concerns in advance, often creating a more stable, secure basis for the marriage. A prenuptial agreement, of course, is also helpful in the event that the marriage does not survive. The process of divorce is often made much easier by the existence of a valid agreement created before the relationship deteriorated. There are many issues that may be addressed in a prenuptial agreement, but it is important to realize that the agreement may not be used to waive any rights belonging to your current or future children, especially rights related to child support.

Legitimate Child Support Considerations

Prenuptial agreements most commonly address a couple’s finances and property. They can be used to identify certain assets as marital or non-marital property, as well as to determine which spouse would receive what assets in a potential divorce. A prenuptial agreement, however, can also be used to simplify situations involving children and responsibilities from a previous relationship.

...

prenuptial agreements, Illinois family lawyersWhen the actor Robin Williams passed away in 2014, a public controversy surfaced almost immediately over the disposition of certain pieces of the late comedian’s estate. Specifically, the dispute was between Williams’ third wife and his children from a previous marriage and the rights of each to a number of personal belongings, including a collection of wristwatches. This type of situation is not terribly uncommon for those who have been married multiple times, and is a major reason that prenuptial agreements are often integral to a peaceful remarriage situation.

More Than Just a New Relationship

If you are thinking about getting remarried and you already have children from a previous relationship, you probably realize that your choice to get married again is likely to have an effect on them. Depending upon your children’s age and maturity level, they may be able to understand and even welcome the addition of a new stepparent to their lives. Remarriage, however, can have implications well beyond interpersonal relationships, as a new spouse and a blended family situation can lead to complexities in ensuring your children’s inheritance rights are protected.

...

prenuptial agreement, prenup, Illinois Family Law AttorneyWhen a couple is preparing to marry, the thoughts of both partners are often consumed by ideas of romance and building a future together. It can be rather easy to forget that marriage also represents a civil partnership, as well, not entirely different from a business relationship of sorts. As Americans continue to wait longer to marry, many individuals are bringing more of a financial and personal history to their marriage, often creating a situation that is best served by negotiating a prenuptial agreement prior to saying “I do.”

A survey of the American Academy of Matrimonial Lawyers indicated that a majority of divorce and family law attorneys have seen an increase in prenuptial agreements over the last few years. There is an ongoing debate, however, over the effectiveness of many prenuptial agreements and the idea that formalizing such a contract can negatively impact the health of a relationship. For many, especially those entering a second or third marriage, a prenuptial agreement offers the opportunity to objectively discuss finances and money matters before they become a serious issue.

The main advantage of a well-negotiated prenuptial agreement is that it can remove much of the uncertainty that could potentially exist at the end of the marriage, whether that end comes by divorce or the death of a spouse. This can be particularly helpful for couples who bring with them substantial personal property or assets acquired prior to the marriage. By utilizing a prenuptial agreement, spouses are often able to agree upon the disposition of such property in the event of death or divorce, without the range of emotions death or divorce may cause jeopardizing objective decision-making. Instead, a couple is often able to plan logically and without bitterness so that, when the time comes, there will be little or no need for litigation or contentious family disputes.

...

Recent Blog Posts

Categories

Archives

Contact Us

NOTE: Fields with a * indicate a required field.
*
*
*
*