Prenuptial and Postnuptial Agreement Lawyer in Schaumburg, IL
There was a time when prenuptial and postnuptial agreements were taboo, but it has become a very common way for married couples to protect their assets. Prenups and postnups are both legally binding contracts that hold up in court. However, there are instances in which either may be contested in court by one of the parties involved. If you are going through a dispute or disagreement of a prenup or postnup, you need legal representation.
Our attorneys at Allen Gabe Law, P.C. can provide legal representation for those drafting, disputing, or defending a prenuptial or postnuptial agreement in Schaumburg, IL. We have years of experience in matters of family law including prenups and postnups, and we will help protect your rights and ensure a favorable outcome.
What is a Prenuptial Agreement?
A prenuptial agreement is a legally binding contract written and signed by two people before they marry. The main purpose of a prenuptial agreement is to list the assets, including property and debts, owned by each party and how the property will be divided in the event of a divorce. This protects assets from being considered marital property.
Couples may agree to sign a prenup for the following reasons:
- One soon to be spouse has valuable assets that they want to declare as non-marital property during and after the marriage.
- One soon to be spouse earns a higher income and wants to protect it in case of a divorce.
- One soon to be spouse starts a business and wants to keep the finances of the business as their sole responsibility.
- Soon to be spouses may agree to protection from each other’s debts.
- A soon to be spouse with children from a previous marriage may want to protect a certain percentage of their assets to be passed on to their children.
- Both soon to be spouses want to specify how their property will be divided in a divorce to avoid disputes should a divorce occur.
What is a Postnuptial Agreement?
A postnuptial agreement is a legally binding contract signed by spouses after their marriage to protect their property and assets. The main purpose of these agreements is to protect the property and assets of one spouse from the other, and even assign responsibility for certain debts. A common reason for a postnuptial agreement is if one spouse decides to start a business, a postnup will declare the spouse solely responsible for that venture and protect the other spouse in case the business fails.
The following are the main reasons to sign a postnuptial agreement:
- Protect one spouse from a risky investment or business venture by the other spouse.
- Protect assets such as the home in case of a failed business venture or investment.
- Articulate inheritance rights of their children or children from previous marriages.
- Determine property division in case of a divorce or death of a spouse.
- Determine responsibility for specific debts.
Legal Representation for Drafting, Disputing, or Defending Prenups and Postnups
Prenuptial and postnuptial agreements are considered legally binding contracts so they must be drafted carefully. Both types of agreements must meet the requirements of the state of Illinois, or they will not be upheld by the courts. Our attorneys can help you draft prenup and postnup agreements that meet all of the necessary legal requirements. You can either draft the agreements in the presence of our attorneys or draft them yourself and have our attorneys review them to ensure they meet the legal requirements.
While prenups and postnups are drafted and signed to avoid disputes in case of a separation or divorce, these agreements are sometimes contested in court. For example, one party may argue to nullify an agreement and claim they signed under duress. Whether you are disputing or defending a prenup or postnup, our attorneys can provide legal representation and help you make your case.
Call the Attorneys of Allen Gabe Law, P.C.
Our attorneys at Allen Gabe Law, P.C. have experience drafting, defending, and disputing prenuptial and postnuptial agreements. We will ensure that your agreements are legally binding and help protect your rights in cases in which a prenup or postnup is being challenged.
Give us a call at (847) 241-5000, Ext 121 to talk to our attorneys about matters concerning prenuptial and postnuptial agreements in Schaumburg, IL.