Establishing Premarital and Postnuptial Agreements for Clients in the Chicago Area
Chicago Divorce Attorneys
No married couple wants to think about the prospect of ending the marriage, but the reality is that it is financially devastating to go through a divorce if you are not prepared. That is why it is in your best interest to set up either a premarital or postnuptial agreement to protect your assets in the event of a divorce. The attorneys at The Law Offices of Michael P. Doman, Ltd. have more than 25 years of experience safeguarding the finances and assets of clients throughout Chicago before a divorce. Divorces are usually painful, but with the help of a skilled law firm, you can limit the financial hardships with a proper pre- or postnuptial agreement.
What is a premarital agreement?
A premarital agreement is a legally binding document agreed upon by a couple before the marriage becomes official. This agreement documents what is to happen to the parties’ assets, real estate and businesses in the event of a divorce. Without a premarital agreement, a court will adhere to Illinois’ “equitable distribution” law to figure out how to divide any properties you own. With a prenuptial agreement, you are able to protect your:
A premarital agreement also protects you from inheriting your spouse’s debt after a divorce. However, it cannot be used to decide allocation of parental responsibilities plans, child support payments or who gets to live in the family home once the marriage is dissolved.
What is a postnuptial agreement?
A postnuptial agreement offers the same protections as a premarital agreement; however, it is established after a marriage has taken place. This is an especially useful tool if your marital assets change over time. When previously stay-at-home mothers or fathers get jobs, it changes the financial dynamic of the marriage, especially if the previously unemployed spouse becomes the main source of income. In situations like this, you might want to put a postnuptial agreement in place that establishes a property division plan that works for you.
Learn more about how we can help you protect your assets
If you are married or about to be married, it’s vital to always have your eye on the future. With the help of an experienced family law and divorce attorney on your side, you can get a proper premarital or postnuptial agreement established that safeguards your most important property and assets. Call a Chicago divorce lawyer from The Law Offices of Michael P. Doman, Ltd. today at 847.897.5288 or contact us online to schedule a meeting to discuss your options. We maintain conveniently located offices in Northbrook and the Chicago Loop.