Premarital Agreement Illinois With Divorce

State:
Illinois
Control #:
IL-P035-PKG
Format:
Word; 
Rich Text
Instant download

Description

This package can be used by persons who have been previously married, or by persons who have never been married. It includes provisions regarding the contemplated marriage, assets and debts disclosure and property rights after the marriage. The forms describe the rights, duties and obligations of prospective parties during and upon termination of marriage through death or divorce.


These forms are often used by individuals who want to ensure the proper and organized disposition of their assets in the event of death or divorce. Among the benefits that prenuptial agreements provide are avoidance of costly litigation, protection of family and/or business assets, protection against creditors and assurance that the marital property will be disposed of properly.


Included in your package are the following forms:



1. Prenuptial Premarital Agreement without Financial Statements;

2. Amendment to Prenuptial or Premarital Agreement;

3. Financial Statements only in Connection with Prenuptial Premarital Agreement;

4. Revocation of Premarital or Prenuptial Agreement

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Premarital Agreement

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FAQ

Can I do my own prenuptial agreement? You do not need an attorney to create or read the prenup before parties agree to it. However, the prenup is much more enforceable if both parties have their own attorney during the prenup process.

Postnups, as we like to call them, can sometimes be referred to as a marital agreement because it is executed during the marriage. The biggest difference between a postnup and a prenup is the timing (was it created before or after the wedding). Prenups must be executed before the wedding.

Even if you divorce without a prenuptial agreement, Illinois law allows individual judges enormous leeway to make decisions about you and your spouse's life. In Illinois, marital assets are NOT divided 50/50. In Illinois, marital assets are divided equitably.

Technically speaking, both people do not need a lawyer. However, both people should have a lawyer. If the prenup ever goes before the court, the judge will want to see that both people had lawyers.

What you may include in an Illinois Prenup Put it in writing! ... The terms included in your premarital agreement must be lawful. Your Illinois premarital agreement must be signed by both parties (HelloPrenup recommends initials at the bottom of each page!)

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Premarital Agreement Illinois With Divorce