4 Reasons Why Your Illinois Prenuptial Agreement May Be Found Invalid

 Posted on December 00,0000 in Prenuptial Agreement

As times are changing, so are attitudes toward previously taboo topics, such as signing prenuptial agreements before marriage. Over the years, drafting a prenuptial agreement before tying the knot has become more and more popular. One possible reason for the increase in popularity is that people are waiting until later in life to get married the first time. This means more people are entering into marriage with more assets that they want to protect. Prenuptial agreements must be created carefully, or they run the risk of being invalidated if they are contested during a divorce. Here are a few ways your prenuptial agreement may be found invalid:

1. The Agreement Was Not in the Right Format

In the state of Illinois, prenuptial agreements must be in writing. In other words, you cannot have an oral prenuptial agreement. Both you and your spouse must sign the agreement for it to become valid, and you must file it with the clerk of the circuit court so there is a record of the agreement.

2. You Signed the Agreement Too Close to the Wedding

In some cases, couples wait until the last possible minute to sign the prenuptial agreement, but this can be a mistake. You need to give yourself a minimum of one month between signing the agreement and your wedding. If not, it could be argued that you or your spouse did not have enough time to fully understand what the agreement entailed.

3. You Did Not Fully Disclose All of Your Assets

By law, it is required that you and your spouse be fully transparent when it comes to your financial situation. If you hide certain assets or liabilities from one another, your prenuptial agreement could be declared invalid.

4. You and Your Spouse Used the Same Lawyer

Another big mistake is using the same attorney as your spouse for legal advice when drafting a prenup. This can make your prenuptial agreement invalid because you must have your own legal representation to inform you of your rights and the consequences of signing the agreement. One attorney cannot advocate for both parties' best interests.

Contact a Kane County Prenuptial Agreement Lawyer

Gone are the days when prenuptial agreements were just for the wealthy. Now, almost anyone can benefit from having a prenuptial agreement in place before saying, “I do.” If you think a prenuptial agreement might be right for you, or if your existing prenup is being contested, a North Aurora divorce attorney can help. At the Law Office of Matthew M. Williams, P.C., we can answer any questions that you may have about getting a prenuptial agreement, and we can also help you throughout the drafting process. Call our office today at 630-409-8184 to schedule a consultation.

Sources:

https://www.washingtonpost.com/business/economy/why-youre-more-likely-to-have-a-prenup-than-your-parents-were/2017/08/04/51361598-77d8-11e7-9eac-d56bd5568db8_story.html?noredirect=on&utm_term=.e2c90254b66a

https://www.forbes.com/sites/jefflanders/2013/04/02/five-reasons-your-prenup-might-be-invalid/#52d9117519a5

https://www.huffpost.com/entry/10-common-prenup-pitfalls_b_4214860

http://www.ilga.gov/legislation/ilcs/ilcs3.asp?ActID=2087&ChapterID=59