The Law Office of Matthew M. Williams, P.C.

630-409-8184

1444 North Farnsworth Avenue, Suite 307, Aurora, IL 60505

Posted on in Prenuptial Agreement

prenupPlanning a wedding requires a great deal of organization and patience. You probably have a checklist of items that you need to get done before the big day, which may or may not include finalizing your prenuptial agreement. If you and your fiance have chosen to create and sign a prenuptial agreement, you will soon figure out that it comes with its own checklist of things to consider, which can become overwhelming when you are trying to plan a wedding. Having a solid prenuptial agreement that has examined all of the necessary factors is important to the successful implementation of the agreement in the event that you do get divorced.

Premarital Assets and Debts

Things that you bring into the marriage - whether they are assets or debts - are considered premarital assets and debts and are typically not subject to division during a divorce. In order to safeguard that property, putting it into the prenuptial agreement is a good idea. You can also stipulate what happens to the property if it is used to purchase other things during the marriage.

Marital Property

This is all assets and debts that you and your spouse accumulate during the time you are married. You can choose to either stick with Illinois law, which is to divide the property equitably in the event of a divorce, or you can create your own arrangement. You can go so far as to stipulate what specific items you will keep and what items you will give up.

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prenupAs many as half of all marriages in the United States end in divorce. While divorce still tends to have a negative stigma surrounding it, it is often the best choice that a person can make. You are better off being divorced and happy than continuing to live in a miserable marriage. Some people may think that a divorce is the end of their romantic lives, but many people use their divorce as an opportunity to reconnect with themselves and find a partner who is the right fit for them. If you are considering remarriage, it does not come without its own set of complications. Here are three things you should consider before you tie the knot again:

Make Sure the Timing Is Right

Experts say that you should wait about a year before you begin dating again after you have been divorced. This allows you to spend some time outside of a romantic relationship, which you can use to get in touch with yourself, rediscover your interests and determine what you want in your next romantic relationship. Remarrying too soon after a divorce can be a recipe for failure, but the timing can differ for everyone. If it feels natural to get remarried, then you are probably ready. How Will Your Children React to the Remarriage? Children can have a lot of opinions about a lot of things - and your remarriage will be no exception. Getting married again means inviting a new person into your life, but that also means that this person will be in your children’s lives as well. Before you get married again, talk to your children about how they feel and see what they have to say about the idea. While it is ultimately not their decision, it can be beneficial for both you and them if they are on board. A Prenuptial Agreement Can Protect You and Your Finances Many people turn to prenuptial agreements before they get remarried. Prenuptial agreements can help you protect your finances and your assets in your second marriage. They can also help you spell out certain terms for your children, such as what property your children will get if you were to get divorced or where certain family heirlooms will go. A DuPage County Prenuptial Agreement Attorney Can Set You Up For Success

A divorce does not have to mean the end of your love life. Romantic relationships after a divorce can be some of the most meaningful relationships of your life. There are certain considerations that you should make before you enter into a second marriage. At the Law Offices of Matthew M. Williams, P.C., we can help you understand the ramifications of getting remarried and how it can affect your current child support orders or parenting plan. We can also help you draft a secure and thorough prenuptial agreement if you believe that one is right for you. Call our experienced Aurora, IL prenuptial agreement lawyers for a consultation at 630-409-8184.

 

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Illinois divorce attorney, Illinois family lawyer, Illinois child custody lawyer,Although it may have never crossed your mind, prenuptial agreements can be beneficial for many people - not just those who are wealthy. Prenuptial agreements are legal contracts that couples sign before they are married that can hash out the details of things like property division or spousal support in the event that the couple was to ever get divorced. Each state has its own laws pertaining to prenuptial agreements and agreements in Illinois are subject to the Illinois Uniform Premarital Agreement Act. The Act dictates everything from how prenuptial agreements must be constructed, to what can and cannot be included in prenuptial agreements. As with most things in the legal world, prenuptial agreements can become tricky, but here are four things that you should know before committing to a prenuptial agreement. Anyone Can Benefit from a Prenuptial Agreement Many people’s knowledge about prenuptial agreements comes from what they have seen on television and in movies. You do not have to be extremely rich or have tons of valuable assets to get a prenuptial agreement. Any couple can benefit from getting a prenuptial agreement, especially when one or both spouses have been married before, one or both spouses have children from other people, either one of you owns a business or there is an income disparity between the two of you. You and Your Soon-to-Be Spouse Both Need to Hire Lawyers While it would be easier to just hire one attorney who could draft the agreement for you, both of you should get your own lawyers to help you look over the agreement and foresee any future problems with it if it were to be used. A single attorney cannot be an advocate for both of you and if you both do not have separate legal counsel, your agreement may not hold up in court. Full Disclosure Is Required You are required to be completely truthful about any current assets that you have or any future assets, such as inheritance or inherited property you may get. Full disclosure is required going into an agreement, that way both spouses know what they are getting into. It Can Get Awkward Between You and Your Significant Other Bringing up the idea of a prenuptial agreement can be awkward for both you and your soon-to-be spouse. Prenuptial agreements tend to still carry a negative stigma because they are planning what will happen if you two get a divorce. Really, you should not stress about the conversation with your significant other. If you two truly love each other, the conversation will be welcomed with open arms. Contact a DuPage County Prenuptial Agreement Lawyer

Though people rarely talk about prenuptial agreements, they should not be considered taboo. In the unlikely event that you and your significant other get a divorce, prenuptial agreements can save you a lot of time and money about certain decisions, making the process easier. If you are looking to get a prenuptial agreement before you are married, you should contact a skilled Aurora, IL prenuptial agreement attorney. The Law Office of Matthew M. Williams, P.C. can help you draft an agreement that benefits both you and your spouse. To schedule a consultation, call the office at 630-409-8184.

 

Sources:

https://www.forbes.com/sites/christinefletcher/2018/09/18/10-things-you-need-to-know-about-prenups/#6229d8ce62ba

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Illinois divorce attorney, Illinois family lawyer, Illinois child custody lawyer, attorney fees,Even though the notion of planning for the end of your marriage before you are even married is not the most romantic thought, it is smart decision making. A prenuptial agreement is a legal document that dictates how each spouse’s assets are divided if the marriage ends in divorce. There are quite a few things that a prenuptial agreement can--and should--contain. Premarital Assets and Debts You should make a list of your assets and debts that are currently in your name and that you acquired before your marriage. These assets can be anything from savings and brokerage accounts, a car, jewelry or a house. You and your spouse should be upfront with each other about assets that you are bringing into the marriage. You should also discuss how you will handle the division of premarital assets and debts in the event that they become intertwined with marital property. Marital Property In general, marital property is any asset or debt that is acquired during the marriage. The prenuptial agreement should spell out how you handle the assets and income that you gain during the marriage. You could possibly split marital property 50/50, or you could distribute the marital property as equitably as possible, meaning it may not be 50/50. This can save you a lot of time in the future if you do end up getting divorced. Spousal Support Though you are not required to have a section for spousal support in a prenuptial agreement, it can be extremely helpful to have your wishes down if you do get a divorce. Depending on you and your spouse’s assets, living expenses and other things, you may be entitled to spousal support. If your prenuptial agreement contains clauses about spousal support, the courts must follow the agreement’s terms. Get Support from an Aurora Prenuptial Agreement Attorney

Prenuptial agreements are becoming more and more popular and are losing the stigma that they once held. This is due partly because couples are tending to enter into marriage with a lot more assets than they did 40 years ago. If you are engaged and think a prenuptial agreement is right for you, a skilled DuPage County prenuptial agreement attorney can help you draft an agreement that fits your needs. Contact the Law Offices of Matthew M. Williams, P.C. at 630-409-8184 to set up a consultation.

 

Source:

https://www.americanbar.org/groups/gpsolo/publications/gpsolo_ereport/2012/march_2012/premarital_agreement_issues_checklist.html

Illinois divorce attorney, Illinois family lawyer, Illinois child custody lawyer, attorney fees,Nobody prepares for divorce when they are engaged, but according to a survey from the American Academy of Matrimonial Lawyers, that is exactly what people are doing. Of the members surveyed, 62 percent saw an increase in the number of couples seeking prenuptial agreements over the past three years. Increasing Popularity, Losing Stigma One reason why prenuptial agreements are becoming more common is due to the trend in marriage - more people are waiting until they are older to get married. According to a U.S. Census report, about 8 in 10 people had married by age 30 in the 1970s, but in 2016, the same percentage was not reached until age 45. Because people are waiting longer to get married, they are more likely to have accumulated assets, such as a business or property. A prenuptial agreement is a way for couples to protect these assets in the event of a divorce. Prenuptial Agreements May Be for You

While prenuptial agreements still might ring unromantic for some, they can be right for others. Here are seven situations in which a prenuptial agreement might be right for you.

  1. When important assets are involved - When you have assets such as a house, stocks or retirement funds, a prenuptial agreement can protect your personal assets.
  2. When children from previous marriages are involved - Many times people have obligations to their previous spouses or children from a previous relationship. Prenuptial agreements can protect certain assets and allocate them to the children.
  3. When one partner owns a business - If you own a business and you end up getting a divorce, part of your business may be allocated to your spouse, meaning you may end up with an unwanted partner in your business.
  4. When one partner is much wealthier than the other - When there is a major income difference in partners, things can often turn out not in the favor of the wealthier partner.
  5. When one partner is much older than the other - If one partner is much older than the other, the older partner may not be able to recover their assets in time for retirement.
  6. When debts are involved - When one or both partners have debt going into a marriage, having a prenuptial agreement can ensure that each partner pays for his or her own debt when the marriage is dissolved.
  7. When inheritance is expected - If one or both partners expect to gain an inheritance during their marriage, a prenuptial agreement can prevent it from being divided in the case of a separation. A prenuptial agreement can also specify that family heirlooms stay with a specific partner.
Contact an Illinois Prenuptial Attorney If you think that a prenuptial agreement is right for you, you need the help of an experienced Illinois prenuptial attorney to take care of the details. The Law Office of Matthew M. Williams can provide you with guidance and nearly 10 years of expertise. Call 630-409-8184 to schedule a consultation.

Sources:

https://www.washingtonpost.com/business/economy/why-youre-more-likely-to-have-a-prenup-than-your-parents-were/2017/08/04/51361598-77d8-11e7-9eac-d56bd5568db8_story.html?utm_term=.4744c5cea865

http://aaml.org/sites/default/files/New%20vow%20%E2%80%99Til%20prenup%20do%20us%20part.pdf

The Law Office of Matthew M. Williams, P.C.

630-409-8184

1444 North Farnsworth Avenue, Suite 307, Aurora, IL 60505

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