Prenuptial Agreement Checklist

 Posted on December 00,0000 in Prenuptial Agreement

Planning a wedding requires a great deal of organization and patience. You probably have a checklist of items that you need to get done before the big day, which may or may not include finalizing your prenuptial agreement. If you and your fiance have chosen to create and sign a prenuptial agreement, you will soon figure out that it comes with its own checklist of things to consider, which can become overwhelming when you are trying to plan a wedding. Having a solid prenuptial agreement that has examined all of the necessary factors is important to the successful implementation of the agreement in the event that you do get divorced.

Premarital Assets and Debts

Things that you bring into the marriage - whether they are assets or debts - are considered premarital assets and debts and are typically not subject to division during a divorce. In order to safeguard that property, putting it into the prenuptial agreement is a good idea. You can also stipulate what happens to the property if it is used to purchase other things during the marriage.

Marital Property

This is all assets and debts that you and your spouse accumulate during the time you are married. You can choose to either stick with Illinois law, which is to divide the property equitably in the event of a divorce, or you can create your own arrangement. You can go so far as to stipulate what specific items you will keep and what items you will give up.

Finances

Writing a section about the finances and how they will be handled is also a good idea. The agreement can stipulate who is responsible for managing the finances and paying the bills. You can also make inclusions about any credit issues or taxes, including whether or not you will file your taxes jointly.

Employment

A point of contention for some couples, including information about the expectations for the household contributions of each spouse and the employment of each spouse is a good thing to include. If one spouse will stay at home while raising the children, you should include that. You can also plan for how you will deal with making the decision about relocations.

Spousal Support

If you get divorced, the question of spousal support will come up. In Illinois, there are a number of factors that are taken into consideration when a judge is deciding whether or not spousal support is appropriate. If you include a provision about spousal support in your prenuptial agreement, you can guarantee a spouse will get it.

A DuPage County Prenuptial Agreement Lawyer Can Help You Check All of Your Boxes

The average age of marriage in the United States has become older than ever before, meaning people are going into marriages with much more property and assets than they used to. Because of this, more and more young couples are looking to prenuptial agreements as viable options to help them manage their marital affairs. The Law Office of Matthew M. Williams, P.C. has helped numerous couples create prenuptial agreements that work for their specific situations and we can do the same for you. Our knowledgeable Aurora, IL prenuptial agreement attorney will advise you of your options when drafting the agreement so you can get the most out of the experience. Call our office today at 630-409-8184 to set up a consultation.

Source:

https://www.americanbar.org/groups/gpsolo/publications/gpsolo_ereport/2012/march_2012/premarital_agreement_issues_checklist/