Should My Fiancé and I Get a Prenup?
So you are gearing up for a wedding in Illinois – congratulations! The time before your wedding can be one of the most precious and tender periods of your life. Preparing for a wedding is an exciting and exhausting process, and it is easy to let things slip through the cracks. Despite having so many things to do, one crucial thing that all couples should consider before they tie the knot is the value of a prenuptial agreement.
Nobody wants to think about their marriage ending before it begins, and some people are reluctant even to discuss a prenup with their fiancé. However, there is a way to frame a prenup that could be considered gentle and even romantic: You love your fiancé so much that, starting right now, you are going to protect their interests – even if you separate later.
A prenuptial agreement is the best way to protect your premarital assets and interests and can help you, and your spouse navigate a divorce with far less conflict in the future. Here are some things to consider as you contemplate whether you want a prenup:
What Does a Prenup Do?
A prenuptial agreement is a legally binding contract that a couple writes and signs before they get married. It gives spouses a chance to understand the legal rights they acquire when they get married, and the rights they will give up if they get divorced. A prenup gives couples the freedom to plan the allocation of assets the way they see fit, rather than reaching an agreement about property division during the divorce or following their states’ divorce laws. You may not agree with the fact that Illinois is an “equitable distribution” state rather than a state that splits assets 50/50, and you can dictate in your prenup that you and your spouse will split everything equally if you divorce.
What Should We Put in Our Prenup?
The language of each couple’s prenup will be slightly different, but here are a few things prenups will often do:
Distinguish between marital and non-marital property – Include what belonged to each of you before the wedding, and what you will keep if the marriage comes to an end.
Protect against debt – If your spouse has debt when you get divorced, your shared marital property may be used to help settle the debt. In the age of extensive student loan debt, a prenup can make sure that whoever owns the debt keeps the debt.
Describe spousal responsibilities – You can determine which spouse will be responsible for certain expenses, such as home expenses or savings account contributions.
Sunset clause – After a certain period of time, you can allow the prenup’s contractual obligations to expire. This may encourage the marriage to last longer and help you overcome periods of difficulty.
Contact a St. Charles Prenuptial Agreement Attorney
If you and your fiancé are considering a prenup and want to talk to an attorney who can help you, contact the law offices of Mirabella, Kincaid, Frederick, & Mirabella. We have experience dealing with prenups and can help you craft an agreement that represents your best interests. Contact a Kane County family law attorney with MKFM at 630-665-7300 and schedule a confidential consultation today.