If you are preparing to get married and decided to include a prenuptial agreement in these arrangements, you should do what you can to ensure the document you create is as effective as possible and appropriately addresses your goals. If your marriage ultimately fails, a well-crafted prenuptial agreement can protect both of you from a messy divorce. Continue reading to learn more about what you should include in your prenuptial agreement.
What Does a Prenup Cover?
Prenuptial agreements are generally designed to protect assets and property. Child-related matters, such as custody and support, cannot be included.
Additionally, most states also prohibit future spouses from waiving alimony rights. The last thing you want is for your prenuptial agreement to be deemed invalid, so it is crucial to leave any of these items or other personal matters out of the document you create.
Moreover, if your prenuptial agreement was signed under duress or either party lacked proper legal representation, it may also invalidate your agreement. Therefore, make sure both you and your fiancé secure skilled legal counsel.
4 Things to Include in a Prenuptial Agreement
Below are some items you should consider including in your prenuptial agreement:
- Division of Property - If you do not distinguish marital and separate property in your prenuptial agreement, all assets and property will be divided according to state law. Illinois is an equitable distribution state, which means marital assets are fairly divided, though not necessarily equally.
- Debt Liabilities - A prenuptial agreement can also protect you from your spouse’s debts, ensuring that you are not responsible for certain expenses that should remain separate.
- Property & Assets for Children - If you have children from a previous relationship, you can take the proper measures to protect their rights to assets and property.
- Retirement & Investments - Your prenuptial agreement can also address your future financial plans as a couple, including retirement and investment strategies.
Creating a prenuptial agreement does not mean you believe your marriage will fail, but it does mean you will be prepared if it does, so do not hesitate to contact an attorney to assist with the process.
Schedule a Consultation to Get Started on Creating Your Prenuptial Agreement Today!
Marriage is something to be celebrated, but you should also be responsible and do what you can to protect your future and create a strong safety net. At the Law Offices of Jonathan Merel, P.C., our family law team can provide the advice you need to create an effective prenuptial agreement.
Reach out to our law office today at (312) 487-2795 to set up a consultation with a member of our legal team and create your prenuptial agreement.