Prenuptial Agreements

Experienced Prenuptial Agreement Lawyers

Prenuptial agreements are not just for celebrities or the fabulously wealthy. Prenuptial agreements (also called premarital agreements) can help individuals who are entering into a second marriage and want to protect their children’s inheritances or established family businesses upon death or divorce. Another common reason for drafting a prenuptial agreement is to protect assets when a very wealthy person marries someone with fewer assets. In all instances, it is important to consult a knowledgeable and experienced family law attorney about the details.

At the Illinois law firm of Urban & Burt, Ltd., our lawyers draft prenuptial agreements. We build on our many decades of experience to develop enforceable agreements that stand the test of time. We advise clients about the intersection of prenuptial agreements, estate planning and property settlements in divorce. We talk about the options available to accomplish their goals. It is advisable that each party have a separate attorney to review the prenuptial agreement.

When clients consult our firm about a prenuptial agreement, we ask them to provide comprehensive listings of assets and information about their children and others affected by a proposed agreement. We find out why they wish to develop prenuptial agreements; in many instances, a client’s goals can also be achieved through a will or trust fund.

Things to Consider When Developing a Prenup

Some of the questions we ask during this consultation include:

  • How long should the agreement last?
  • Should the amount of maintenance a spouse receives in the event of divorce be tied to the duration of the marriage?
  • Should a prenuptial agreement replace a will or trust?
  • Does your fiancé/fiancée have his or her own attorney?
  • Have the parties disclosed all assets and liabilities?

Timing of the Agreement: An Enforcement Issue

In addition to asking questions such as these, we determine when the proposed marriage should occur. When enforcing a prenuptial agreement, the court looks at the time that elapsed between the signing of the agreement and the wedding. In instances where the agreement was concluded right before the marriage, a judge may refuse to enforce the prenup. We want to make sure that agreements we prepare are enforceable and thus make sure that there is adequate time between the prenuptial agreement and the marriage.

Contact our Oak Forest prenuptial agreement attorneys for a free 30-minute consultation. Call us at 708-381-5427 to learn how we can help with a premarital agreement. We serve communities such as Crestwood, New Lenox and Alsip.

Division of Marital Assets and Debts

With some specific exceptions, all assets and/or debts obtained by either party during the marriage are classified as marital and, as such, are subject to a division in the divorce proceeding. How to divide up marital assets and debts is, without a doubt, the area where most of the effort in negotiation and/or litigation takes place. Unfortunately, there are no set formulas which apply for this determination and the possible solutions to some are endless. The parties’ individual goals, each judge’s personal opinions and interpretation of the applicable law, the number and ages of children and the parties’ income levels are but a few of the many important factors which are considered when dividing up marital assets and debts.

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