Do I Need A Prenuptial Agreement?

January 31st, 2020 by Tiffany Hughes

A prenuptial agreement is a binding and enforceable contract entered into by two potential spouses in anticipation of their marriage. While no couple soon to be married wants to think about potentially getting divorced, it is very important to prepare for the worst-case scenario to ensure that you are protected. If you and your spouse have a long and happy marriage and never get divorced, then the prenuptial agreement will never come into play.

What Is A Prenuptial Agreement?

A prenuptial agreement covers the division of the parties’ present assets and property in the event the parties file for divorce. A prenuptial agreement can also cover whether one spouse will receive maintenance (formerly known as alimony), the amount they will receive, or if neither party shall receive maintenance. Deciding what terms to include in a prenuptial agreement is extremely important and you should speak with an attorney to ensure you are protecting yourself and your assets.

Requirements of A Prenuptial Agreement

While you and your soon to be spouse are free to agree to any legal terms and conditions they wish, certain procedures must be followed in order for a prenuptial agreement to be considered valid, including but not limited to:

• Both parties must make a full disclosure of all their separate assets and liabilities prior to the agreement being signed;

• Each spouse must have the opportunity to consult with and retain a separate attorney, if they so choose;

• Be in writing and signed by both parties; and

• Must provide the other spouse sufficient time to review and fully consider all of the terms in the agreement prior to getting married.

Can I Amend the Prenuptial Agreement After Im Married?

 Once you are married, if you and your spouse wish to amend your prenuptial agreement, you are able to as long as you both agree to the changes and you both sign the amended pages. The attorneys at The Law Office of Tiffany Hughes can walk you through the process of amending your prenuptial agreement, can review the document for you to ensure it reflects your wishes and is valid, and can coordinate the signing and notarizing of the amended agreement.

Contact The Law Office of Tiffany Hughes Today 

For more information on how the family law attorneys at The Law Office of Tiffany M. Hughes, P.C. can help you with drafting a prenuptial agreement or amended a prenuptial agreement in Chicago and its surrounding areas, contact us to schedule your complementary phone consultation today at 773-893-0228.

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This blog is made available by The Law Office of Tiffany M. Hughes, P.C. for educational purposes only as well as to give you general information and a general understanding of Illinois law, not to provide specific legal advice. By using this website you understand that there is no attorney client relationship between you and The Law Office of Tiffany M. Hughes, P.C.. The website should not be used as a substitute for competent legal advice from a licensed professional attorney in Illinois.  The law changes constantly and we do not go back in time to edit old posts that may be affected by these changes.  If you have any questions about Illinois law, which is the only State this blog and website discusses, please call The Law Office of Tiffany M. Hughes, P.C. for a free consultation and do not draw any legal conclusions without speaking to a competent attorney in Illinois first.