No one wants to think about the potential end of a marriage before it begins, but the reality is that approximately half of all married couples in the United States end up getting a divorce. Premarital agreements can help eliminate a drawn-out battle over issues like property division. At the Law Offices of Nick Kulagin, our experienced family law lawyers can help people throughout DuPage and Kane Counties draft solid premarital agreements that protect their future interests. Based in Wheaton, we have 15 years of experience in these complex matters.Devising a Valid Premarital Agreement
The Illinois Uniform Premarital Agreement Act governs premarital agreements in this state. Often referred to as prenuptial agreements, these documents are written contracts between two people who intend to be married. They include each individual’s assets and debts, and they outline each person’s property rights in the event of a divorce or death. Specifically, a premarital agreement may characterize assets as marital or non-marital, address questions of property division, and even spell out spousal support rights and responsibilities. These instruments can be subsequently amended in writing as long as both parties agree to the document’s changes.
Having a well-drafted premarital agreement can save spouses a lot of headaches. Taking this step may be especially useful when spouses have high value assets, a significant amount of real property, prior marriages, children from other relationships, business interests, or expectations of a substantial inheritance. In these instances, it is vital to protect your financial interests for the future.
Premarital agreements may be broad enough to address many issues that would otherwise be decided by a judge at the time of a divorce. There are a few subjects, however, that a premarital agreement cannot cover. These are determinations of child custody and support, matters that are contrary to public policy, and illegal activity.
A correctly drafted premarital agreement is a contract enforceable by law. It can be invalidated, however, if it is shown that it was not entered into voluntarily or that the substance of the contract was unconscionable. Furthermore, a premarital agreement may be found to be unenforceable if it is discovered that a spouse did not disclose his or her full financial assets and debts. Lastly, a court will not honor a premarital agreement if it was made under duress. Under Illinois law, duress is defined as a situation in which an individual is induced by a wrongful act or threat by someone else to enter into a contract under circumstances that deprive that person of the exercise of free will.Contact a Knowledgeable Lawyer to Discuss a Family Law Matter in DuPage or Kane County
Our divorce attorneys can craft premarital agreements for residents of Kane and DuPage Counties. We can assist you in determining what you should include in an agreement, based on your specific circumstances. Having a detailed premarital agreement can save you considerable money and effort in the event of a divorce. The Law Offices of Nick Kulagin also can represent people in Naperville, Hoffman Estates, Oak Park, and Geneva, among other communities. Call us at 630-480-6399 or contact us online to set up a free initial consultation.