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Five Ways a Premarital Agreement can Positively Impact Your Marriage

prenuptial agreement

For engaged couples who are happily busy making wedding plans, a premarital agreement is likely to be the last thing they want to discuss. There is a common myth that this type of legal document somehow ‘jinxes’ a marriage, or implies that either one or both of the parties has doubts about the strength of their commitment. As experienced Chicago family lawyers, we can assure you that this is not the case. In fact, it can actually help to positively impact your future marriage, making it a smart move for any future couple.

The Benefits of a Premarital Agreement

Many people are aware of the potential benefits a premarital agreement, or prenup, offers, particularly in the event of a divorce or separation. Under the Illinois Uniform Premarital Agreement Act (750 ILCS 10/1), it can protect your assets, your business, and any inherited wealth from being divided as part of a divorce settlement.

While commonly acknowledged as a smart move among those with higher incomes and complex estates, the fact is that any couple can benefit from having a premarital agreement in place. It has nothing to do with your devotion to each other, but rather is a reflection of your willingness to have open communication with your partner, and to start your marriage from a place of financial prudence. According to Bankrate, the following are among the many benefits a prenup offers to engaged couples:

  • Clarifies ‘Yours, Mine, and Ours’: Open communication is a key to a solid relationship, Taking an inventory of your individually owned assets, such as a family business or heirlooms, prevents confusion further down the line.  
  • Sets Realistic Expectations: A premarital agreement allows each person to be honest about the lifestyle and standard of living they expect to enjoy throughout the marriage.
  • Reveals Spending Habits: Money is one of the leading things couples argue about. Discussing spending habits now can help avoid future disputes.
  • Sets Future Goals: In addition to discussing spending, a premarital agreement allows you to get on the same page in terms of your savings goals.
  • Provides Security for the Future: While having a prenup does not replace estate planning documents such as a will, it can help to ensure that your spouse is provided for.

Contact Our Chicago Family Lawyers Today

To discuss important matters that could potentially impact you and your spouse prior to your marriage, reach out and contact our Chicago family lawyers. Request your free consultation with the Women’s Divorce and Family Law Group today.

There are many factors to consider when contemplating divorce, and a pre-divorce planning session can help you begin to plan for a divorce. Please contact the professionals at the Women’s Divorce & Family Law Group by calling (312) 585-6604 or clicking here to schedule a consultation.

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Contact Information

Downtown Chicago/Loop Office
Fax:312-283-8636
Lake Forest Office
Fax:312-283-8636
Lisle Office
Fax:312-283-8636
Lake Forest Office

100 Saunders Rd.
Suite 150

Lake Forest, IL 60045

Lisle Office

3333 Warrenville Rd.
Suite 200

Lisle, IL 60532

Downtown Chicago/Loop Office

77 W. Wacker Drive
45th Floor

Chicago, IL 60601

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Attorney Advertising. This information is designed for general information only. The information presented should not be construed to be formal legal advice nor the formation of a lawyer/client relationship. Past results and testimonials are not a guarantee, warranty, or prediction of the outcome of your case, and should not be construed as such. Past results cannot guarantee future performance. Any result in a single case is not meant to create an expectation of similar results in future matters because each case involves many different factors, therefore, results will differ on a case-by-case basis.