What Should I Include In My Postnuptial Agreement?
Sometimes, marriages fall apart. Divorce can be costly, with major challenges for both parties. Although divorce is something you do not see coming, you can prepare beforehand. The legal paperwork of a postnuptial agreement can give you and your partner the security and peace of mind you need. This agreement can allow you to tackle many financial and personal problems before they happen. With the help of a knowledgeable family law attorney, you can ensure that your postnup is legally binding and protects both of your interests.
What Should I Add to My Postnup?
Marriage is when the lives of both people come together completely. With divorce, the process is just as intimately involved, but it is a separation. If you have been married for years, the process can be messy. But with a postnuptial agreement, many factors are already put in place regarding separation. Here are a few areas of divorce that you should add to your postnup for a simpler and less stressful divorce:
Marital property: Divorce in Illinois prioritizes equitable division of all assets. In your postnuptial agreement, you can outline how assets and debts are distributed.
Alimony: You can specify how alimony (known as spousal support in Illinois) is handled in your divorce. Be sure to include in your postnup the amount to be paid, the duration, and any circumstances relevant to both parties.
Division of business ownership: A postnuptial agreement can define how a company will be handled in a divorce if you or your spouse own a business. You can determine who will keep ownership of the business or part of the business.
Debts: A postnuptial agreement can specify who handles certain debts. You can outline how joint debt will be managed and which partner is accountable for particular debts or liabilities.
Is There Anything That Cannot Be Included in the Postnup?
The only limitation to a postnuptial agreement in Illinois involves child arrangements. If your agreement discusses anything related to child arrangements, it cannot be enforced. Adding a section regarding child arrangement can invalidate your postnup entirely. You can always iron things out with a family law attorney and ensure that your postnup is valid if you are not sure.
Can You Make Edits to a Postnup?
A postnuptial agreement can be modified or edited to accommodate any life changes from either party. An attorney can greatly help you negotiate the difficulties you are facing and guide you.
Contact One of Our Wheaton, IL Family Law Attorneys
The legal process of a divorce can be taxing. The best thing you can do to protect yourself and your financial future is to draft a postnuptial agreement. A DuPage County family law attorney can help you solidify an understanding that both you and your partner can get behind. At Andrew Cores Family Law Group, we will help guide you through the process. Call us at 630-871-1002 for a free consultation.