Tag Archives: prenuptial agreement
A prenuptial agreement is designed to safeguard spouses (or oftentimes one spouse) in the unexpected event of a divorce. Preunps are primarily implemented to protect business interests, financial assets, and often to establish the terms and conditions for spousal support in the event of a divorce. A key element in creating a valid and legally-binding prenuptial agreement is to ensure that the agreement was reached with full disclosure of the respective financial circumstances of the parties involved. Courts will often nullify a prenuptial agreement that was reached without a complete exchange of financial information by both parties.
In Illinois, the law considers a marriage annulment a “declaration of invalidity of marriage.” It is a court order stating the marriage is not valid and therefore, should not be recognized by the state. A marriage annulment is different from a divorce. A divorce recognizes that a valid marriage is now over. Essentially, an annulment treats the marriage as though it never happened.
In Illinois there are four bases for requesting an annulment in Illinois:
Alimony, also known as maintenance, refers to one spouse paying a monthly stipend to his or her spouse during or after a divorce or legal separation. Only married couples are eligible for spousal support. This does not apply to parentage cases for child custody; in those scenarios, support is given to the child and that is referred to as child support. In divorce cases that also involve children, there will also likely be a provision for child support, which is separate from alimony.