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What Can Be Included in an Illinois Postnuptial Agreement?

Wheaton family law attorneyNo one enters into marriage expecting to get a divorce. However, it is impossible to predict the future, and unforeseen circumstances can cause a marriage to fail. Whether it is infidelity, financial problems, or addiction issues, some couples may decide to legally terminate their union. When that happens, there can be many issues to resolve and divide. In some cases, a couple may create a prenuptial agreement prior to their marriage to outline how certain marital issues will be handled in case of a divorce or a legal separation. A postnuptial agreement is a similar legal document that can be drafted after marriage. This document can protect certain marital rights, such as spousal maintenance and division of property. 

Protecting Your Interests in a Postnup

A postnuptial agreement is often referred to as a postmarital agreement or a “postnup” for short. There are many reasons why a couple may want to draft a postnup. For example, if both partners have significant assets that they bring to the marriage, or if they start a business together while they are married. Settling these affairs ahead of time can distinctly define each party’s wishes, which may help prevent a contentious divorce. 

A few of the main issues that a postnuptial agreement addresses include:

  • Division of property/assets
  • Division of debts
  • Spousal support/maintenance

This type of agreement can specify who will retain ownership of marital property, as well as protect the rights of the couple’s children for inheritance after one parent dies. To avoid disputes during a divorce, a postmarital agreement can specify the amount and duration of any spousal maintenance should the marriage end. It is important to know that child-related issues cannot be included in a postnuptial agreement and must be determined during the divorce proceedings. 

What Can Make a Postnup Invalid?

In some situations, it can be difficult for a couple to fully agree on terms of a postnuptial agreement. The court may determine that a postnup is not valid based on the following reasons:

  • The agreement is not in writing.
  • One of the spouses signed it under duress.
  • One of the spouses did not read it or was not given adequate time to consider it.
  • There are invalid provisions.
  • It contains false or incomplete information.
  • Agreement is “unconscionable” or unfair to one party.

Contact a DuPage County Family Law Attorney 

Planning for the unknown can be difficult, especially when it concerns your family. Some couples may not want to draft a prenuptial agreement before they get married. However, they may decide a postnuptial agreement is necessary after the wedding. A qualified Wheaton postnuptial agreement lawyer knows what should be included in this important legal document. At Anderson & Associates, P.C., we will make sure your rights are protected in the event of a divorce. Call our office today at 630-653-9400 to schedule a free consultation. 

 

Source: 

http://www.ilga.gov/legislation/ilcs/fulltext.asp?DocName=075000050K503

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