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What Are Prenuptial Agreements?

Prenuptial agreements are written contracts that parties enter into before marriage that may change the normal operation of the law. They are able to actually change how estate law and divorce law would normally work in cases without such an agreement. For example, without a prenuptial agreement stating otherwise, Illinois law provides that a spouse is entitled to take a statutory one-third share of his or her spouse’s estate even if he or she is not named in the Will. A prenuptial agreement can effectively waive that provision. Another example has to do with the statutory provision that all property acquired during a marriage is marital property to be divided equitably between the parties in a divorce. A prenuptial agreement can identify specific properties that shall not be considered marital property such as accumulations in retirement accounts during a marriage. It can exempt income and set up a joint household account keeping all else separate, among other agreed to provisions that are not unconscionable.

While there are other possibilities for change in a prenuptial agreement, attorney Cellucci can discuss what your assets and debt currently are and what your goals are. Prenuptial agreements can be a very touchy and sensitive subject to discuss especially when both spouses do not have similar assets to protect. Therefore, consideration of a prenuptial agreement should begin very early in the thinking about the marriage process.

Protecting Your Future With Prenuptial Agreements

Prenuptial agreements can help you and your spouse establish transparent communication that can lead to a long-lasting relationship. In the event your marital relationship ends, it can make facilitate the transition to your separation or eventual divorce process. Contact The Law Office of Marsha H. Cellucci at 630-912-5058 for more details or to schedule your initial consultation at their Naperville office today.