Prenuptial Agreement Lawyer Chicago, IL
If you are engaged to be married, a prenuptial agreement lawyer Chicago, IL residents trust from Hurst, Robin, Kay & Allen, LLC offers you the most sincere congratulations! And if you are interested in drafting a prenuptial agreement as part of your wedding preparations, we offer you our sincere kudos. Long gone are the days that prenuptial agreement were used primarily as a form of so-called “divorce insurance.”
Nowadays, savvy couples most often use the process of drafting this documentation as an opportunity to ensure that their marriages begin on a solid foundation that will both last and help to ensure that preventable sources of marital tension are addressed and mitigated from the start.
With the assistance of prenuptial agreement lawyer Chicago, IL couples trust, you will be empowered to draft a legally enforceable, effective, and intelligently crafted prenuptial agreement while avoiding common missteps.
Drafting a Smart, Effective Prenuptial Agreement
One of the keys to drafting an effective, enforceable prenuptial agreement is timing. It is important that you work with a lawyer from Hurst, Robin, Kay & Allen, LLC well in advance of your wedding date, as many jurisdictions will not honor the terms of a prenuptial agreement if the contract is signed too close to a couple’s wedding date. Understandably, agreement signed too close to the date are often invalidated on grounds of coercion or duress. As a result, it is important to connect with an attorney for a consultation quickly.
In addition, it is important to speak with a prenuptial agreement lawyer, Chicago, IL couples confide in about the kinds of terms that your jurisdiction will and will not allow you to include in your agreement. For example, you may be able to address matters related to intellectual property and access to digital accounts but you will likely not be able to address mandates related to what happens (or doesn’t happen) between the sheets. We will be able to clarify how to construct an enforceable agreement that makes sense and adheres to your state’s laws.
Should You Get an Attorney?
You’re engaged, and every fiber of your being says that you are in this relationship for the long haul, which is terrific. However, the reality is nearly 50% of all marriages end in divorce. While that doesn’t mean that your relationship will end, it does mean that a possibility exists. No engaged couple plans on a failed marriage, but they do happen, meaning that it is smart to be prepared for the possible outcome. A prenuptial agreement is a tool; it does not mean that you have lost faith in your partner or that the relationship is doomed. There are at least four excellent reasons a prenup should be signed.
#1 Safeguard Assets
First, a prenup was designed to safeguard the existing assets of each party. Therefore, the paperwork is meant to protect the financial position you currently have in the event of a divorce. In other words, if a prenup is signed and the marriage fails, then each party leaves the union with the assets they originally had. What a prenup does not cover are marital assets, and the division of those assets would still need to be determined during divorce proceedings.
#2 Foster Relationships
Another reason for a prenup is that it solidifies the intention of the relationship between the two parties. While a prenuptial agreement lawyer Chicago, IL residents trust understands that this is unpleasant to think about, some people pretend to be in love so they can access and manipulate the financial success of others. By signing a prenup, a couple stipulates that there is love between them and that love is the reason for the marriage.
#3 Guide Separations
Prenups also offer guidance should a marriage fail. During separations, relationships can become tumultuous and vindictive. A prenup ensures that logic and reason guide the process by minimizing the risks to each party. Therefore, a divorce becomes about only marital and shared assets rather than retribution.
#4 Reduce Stress
Last, some people get stressed about the unknown. Marriage, while beautiful, is a part of the great romantic unknown. Most people don’t know why one relationship succeeds and another fails. Go out and ask several couples who have been successfully married and they will give you multiple reasons for their success. A prenup can reduce stress in those who have a fear of the unknown or those who like to plan for worst-case scenarios, regardless of the likelihood.
A prenup does not signify a lack of love and commitment; it only represents a financial tool used to safeguard both parties. If you are interested in discussing the benefits of a prenuptial agreement and want to know if one is necessary, then contact a local prenuptial agreement lawyer Chicago, IL community members depend on for advice.
Reasons Why You Should Have a Prenuptial Agreement
The wedding day is fast approaching, and the butterflies may be non-stop. Planning for this day has been going along smoothly, and you cannot wait to become spouses.
More couples are preparing and signing prenuptial agreement as part of the lead up to the ceremony. These documents come with a stigma attached; however, is that reputation warranted? Currently, over half of all marriages still end in divorce, a figure that has not changed in the last decade. If you are on the fence about whether you should insist on a prenup, take a look at these reasons in favor of it:
A significant reason couples opt for a prenup is that one or both have money going into the marriage. In these instances where significant assets exist, couples may want to set forth their intention to keep those funds separate from anything accumulated in the union.
For example, if you have an investment account before marriage with a value of $50,000, should you divorce, any money in that account up to that value is automatically yours. You may also agree that money put in the account after marriage either gets split or remains with you.
A prenup cannot address unborn children or matters relating to custody. However, it can talk about children who may be from previous relationships. You may want to protect the property you wish those children you have. If this is a second marriage for either of you, there is a decent chance that there are some children in the mix. Keeping any kind of inheritance safe for them is more easily done in a prenup.
#3 Financial Expectations
As your prenuptial agreement lawyer Chicago, IL clients trust can explain, the general idea of a prenup is to set expectations on how you and your spouse will split things should you divorce. It in no way lays the groundwork for a divorce. Some people refuse to discuss a prenup because they feel it ruins the romance of marriage.
A prenuptial agreement preserves your wishes in the event of a divorce. It is negotiated and signed at a time when your spouse is in agreement and can set realistic and fair financial expectations should you split. Having this makes going through the very stressful and overwhelming process of divorce easier by eliminating arguments over money.
You and your future spouse should openly talk about financial issues leading up to your marriage. Preserving your agreement in a prenuptial agreement should not doom your relationship. As a family lawyer can tell you, it may help maintain some semblance of your civility should you find yourself in the throes of a painful divorce.
Legal Guidance Is Available
If you are interested in drafting a prenuptial agreement specifically and/or are interested in exploring legal tasks that should be completed in the wake of your decision to get married more generally, please schedule a consultation with a prenuptial agreement lawyer Chicago, IL clients turn to as soon as possible. Once you are married, you will enter into a new legal reality. It is important to understand the ways in which your rights and responsibilities will shift before you say “I do.”
Thankfully, speaking with an experienced attorney will not compel you to undertake any specific kind of legal action. Even if you are interested in drafting a prenuptial agreement, it is important to understand that speaking with a member of our legal team will not obligate you to complete this legal documentation. All consultations are designed to do is ensure that your questions are answered and that you can receive necessary legal guidance and support as you strive to make a healthy, informed decision about your situation.
The team at Hurst, Robin, Kay & Allen, LLC takes great pride in helping to support engaged couples as they begin the massive life transition from single to married life, and a prenuptial agreement lawyer Chicago, IL couples trust would be honored to speak with you about your marital needs.