Postnuptial Agreements in Illinois: What You Need to Know
A postnuptial agreement is a legal contract between spouses that determines how their assets will be divided in the event of a divorce. Unlike a prenuptial agreement, which is signed before the marriage, a postnuptial agreement is signed after the couple is already married.
In Illinois, postnuptial agreements are becoming increasingly popular among couples who want to protect their assets and secure their financial future. Here`s what you need to know if you`re considering a postnuptial agreement in Illinois:
1. Postnuptial agreements must be voluntary.
Both spouses must voluntarily agree to the terms of the postnuptial agreement. If one spouse is coerced or forced into signing the agreement, it may be deemed invalid.
2. Postnuptial agreements must be fair and reasonable.
The terms of the postnuptial agreement must be fair and reasonable at the time it is signed. If one spouse is left with little or no assets, or if the terms are heavily weighted in favor of one spouse, a court may deem the agreement unfair.
3. All assets must be disclosed.
Both spouses must disclose all of their assets when signing a postnuptial agreement. It is not legal to hide assets or withhold information from the other spouse.
4. Postnuptial agreements cannot determine child support or custody.
Postnuptial agreements cannot determine child support or custody arrangements in the event of a divorce. These issues are determined by the court based on the best interests of the child.
5. Postnuptial agreements must be in writing.
A postnuptial agreement must be in writing and signed by both spouses. Verbal agreements or informal agreements are not legally binding.
6. Postnuptial agreements can be amended or revoked.
Postnuptial agreements can be amended or revoked by both spouses at any time. However, it is important to seek legal counsel before making any changes to the agreement.
If you are considering a postnuptial agreement in Illinois, it is important to consult with an experienced family law attorney. A lawyer can help ensure that the agreement is fair and legally enforceable. With the right legal guidance, you can protect your assets and secure your financial future with a postnuptial agreement in Illinois.