Having a discussion with your future spouse regarding the topic of a prenup can be a difficult one to bring up, but it is essential to protect your future as well as the future children. A Champaign prenup attorney can guide you through the process if you have questions.
The best time to explore a prenup is before marriage, so if you recently got engaged you might want to explore the idea of a prenup. If you failed to get a prenup agreement prior to marriage, then you can ask your attorney about a postnuptial agreement.
A prenup agreement is a legal document that determines how assets will be divided in the case of a divorce or in the event of the death of a spouse.
One of the misconceptions of a prenup is that it is meant for the wealthy. This is no longer the case. Although prenup agreements are extremely important for couples who have significant assets before marriage, it can be a lifesaver for the average person.
Some Situations in Which a Prenup May Come Handy
If your future spouse has had one or more divorces in the past. It is important to protect your assets in case there’s something that comes up from your future spouse’s past that has to do with his/her prior marriage.
If your future spouse has prior debt or is planning on incurring significant debt it is imperative to have a prenup agreement to protect yourself. The prenup agreement can clearly define who would be responsible for the debt and how things would be handled if there was a significant debt incurred during the marriage.
If you and your spouse plan on going into business together it is also important to have a prenup agreement in place in addition to an operating agreement.
If your future spouse owns a business, it is important to have a prenup agreement because you want to make sure that whatever happens because of the business does not impact you negatively and that you and your assets are protected.
Also, consider if your spouse has a significant stake in any family assets or a family business that should also be covered in the prenup.
If your future spouse has children from a prior marriage or is paying child support to children (that are not yours), it is a good idea to consider a prenup.
A prenup agreement is a lot like an insurance policy; you get insurance just in case something happens, but you never expect to have to use it. A prenup does the same thing, it protects you “just in case” things don’t go as planned.
If you are confused about if a prenup is right for you and your spouse, consult a Champaign prenup attorney for guidance on how you can benefit from a well-executed prenup agreement.
Contact an Experienced Champaign Prenup Attorney Today
An experienced Illinois prenup lawyer can help you determine if you need a prenup agreement and what needs to be included in the agreement. They can also help you draft and negotiate the agreement and then execute the agreement prior to marriage.
If you’re considering a prenup and don’t know where to start, call Rincker Law today to set up a confidential consultation at (217) 531-2179 and determine if getting a prenup agreement is the right choice for you and your future partner.