Many couples make a prenuptial agreement that specifies provisions for a divorce before they are married. Premarital agreements can include a wide range of topics that can be discussed and agreed upon by both parties. Even though it is advised that every couple create a prenuptial agreement before getting married, many do not.
The good news for such couples is that postnuptial agreements are recognized under Illinois law as well. The same conditions and concerns covered by prenuptial agreements are also covered by postnuptial agreements. The main distinction is that the contract is signed after the couple has already been married.
What is a Postnuptial Agreement?
Postnuptial contracts are binding agreements. Similar to agreements made prior to marriage, the couple determines in advance how the couple's joint property and spousal support would be handled in the event of a divorce. These agreements avoid court entanglement while sparing the couple the financial anguish of a contentious divorce. Postnuptial agreements can also make it simpler to decide what belongs to each party separately and what is marital property....