Four Important Benefits of a Prenuptial Agreement

12 Mar
2019

An engagement is an exciting time for couples, regardless of whether it is a first marriage or simply a fresh start. However, there are some practical matters which need to be attended to. Creating a prenuptial agreement with the help of our Chicago family law attorneys should be at the top of your list. While often mischaracterized as unromantic, the fact is this document can actually help improve the quality of your marriage.

How a Prenuptial Agreement Benefits Couples

There are many misperceptions when it comes to prenuptial agreements and engaged couples. According to The Spruce, these include myths that creating one indicates a lack of trust or commitment between the spouses, or somehow ‘curses’ the marriage by bringing up the idea that the couple could eventually divorce.

Unfortunately, the sad fact is that not all marriages work out and some do end in divorce court. While a prenuptial agreement can protect you in this situation, it can also help to avoid issues that may create problems over the course of your life together:

• It lays the groundwork for honest and open discussions about money. Money is one of the things couples fight about the most. By encouraging a pattern of open, honest communications about financial matters early in your relationship, a prenuptial agreement can actually help strengthen your marriage.
• It clarifies issues pertaining to lifestyles and goals. When couples enter into a marriage, they often assume they share many of the same goals. When differences are discovered, particularly concerning lifestyle, work balance, and the pursuit of material things, it can cause major problems. A prenup helps you unify your goals in advance.
• It specifies what is ‘yours, mine, and ours.’ There are likely to be some things you will want to retain individual ownership of, such as family heirlooms or a family business. Particularly if you have children from another relationship, you may want them to inherit certain items. A prenuptial agreement clarifies these matters up front, avoiding potential disputes later.
• It allows you to plan for unexpected events. Under the Illinois Uniform Premarital Agreement Act, you can incorporate some aspects of estate planning into your prenup. It does not take the place of a will, advance directives, or other important documents, but it does provide an extra layer of protection.

Contact Our Chicago Family Law Attorneys

If you are getting married, the Women’s Divorce & Family Law Group can help you determine the actions you need to take to ensure both you and your future spouse are protected. To request a confidential consultation, contact our Chicago family law attorneys today.

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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.