Postnuptial Agreements in Illinois

 Posted on October 21, 2013 in Distribution of Assets

As prenuptial agreements become more and more popular, many married people may be thinking that they wish they could have a prenup. But it’s not too late; a prenuptial agreement created after a couple is married is called a postnuptial agreement, but is, essentially, the same as a prenup.

People who choose to enter into a postnuptial or postmarital agreement do so for many reasons. One reason is if one spouse creates a business, the business partners may ask the spouse to sign and agree not to make a claim on the business should the other pass away or if they become separated. This will prevent a fight over the company from occurring if the couple divorces, and prevent a fight between the business partners and spouse if the spouse who took part in the business passes away.

Spouses may also choose to sign a postnuptial agreement if they have separate properties, which they use to buy a joint property. The agreement will ensure that the spouse with the separate property will still get the same benefits that he or she would have if the properties had stayed separate rather than purchasing joint property.

Although postmarital agreements seem to be a great idea, there are some ways in which this good idea could end up sour.

First of all, courts tend not to look favorably upon them. Postnuptial agreements seem to encourage divorce and historically, married couples have been looked at as one person. If a couple is one person, then they do not need to create an agreement with their own self.

Additionally, when a couple chooses to enter into a postnuptial agreement, they are choosing to give up certain rights that come along with marriage. Because of the change in legalities that arise with these agreements, it is important to fully understand them and have an experienced family law attorney to help.

Lastly, some people try to use postnuptial agreements as ways to plan their divorce. If they notice that their marriage is ending, they may up a postmarital agreement to ensure a certain outcome of the divorce.

If you are considering entering into a postnuptial agreement with your spouse, contact Angel Traub and Associates in Lombard, Ill. for assistance today.