Should I Consider Signing a Postnuptial Agreement?

 Posted on January 15,2024 in Family Law

When a married couple splits, their divorce settlement must cover several topics. Their division of marital assets, spousal support, and the future of their marital home are just a few. When couples begin their divorce proceedings already equipped with a prenuptial agreement they signed before they ever got married, it can make everything go much smoother and quicker. Couples who never signed a prenup but realize once they are already married that it might have been a good idea often sign something very similar, a postnuptial agreement. If you are married and wish you had signed a prenup, you should speak with an Aurora, IL divorce lawyer to discuss whether a postnuptial agreement might be advisable.

What Is a Postnuptial Agreement?

When people get married, they merge their lives together. They live together, plan together, and accumulate assets together. Many couples have a happy, healthy marriage and stay together for the rest of their lives. However, because it is a known fact that many marriages end in divorce, some people choose to prepare themselves “just in case” it happens to them too. A prenuptial agreement is almost like a contract signed before the marriage begins that will only be enforced if the marriage ends. 

There are many benefits to having a prenup. It can offer both spouses peace of mind, knowing that if they hypothetically get divorced someday, they already have an agreement on how they will divide any marital assets and property. This agreement will also save them time that would be spent during divorce proceedings fighting over how to split everything up, should they need to. 

Of course, many young and happy engaged couples do not want to think about the possibility that they might end up divorcing the person they are in love with. With time, a married couple that is more established and has grown together in adulthood might come to regret not having a prenup, even if they do not want a divorce, if they view it as an innovative, efficient way to resolve future potential disputes. 

Much like a prenup, a postnuptial agreement includes several aspects:

• It defines which assets either spouse had before the marriage and which marital assets will be divided if the couple gets divorced.
• It assigns financial responsibilities and expenses each spouse will cover during the marriage.
• It protects each spouse’s potential inheritances as theirs exclusively.
• It outlines potential arrangements for alimony/spousal support.

Contact a Kendall County, IL Postnuptial Agreement Lawyer

If you find yourself thinking it would have been wise to sign a prenup when you still had the chance, it is not too late for you and your spouse to sign a postnuptial agreement. An experienced Yorkville, IL, postnuptial agreement attorney can guide you throughout the process and offer you peace of mind for your future. Call 630-409-8184 for a private consultation.