A prenuptial agreement is basically an officially binding contract made before a couple gets married. The legal agreement explains how assets and income will be distributed in the event the marriage ends either by divorce, separation or death.
Different additions can also be made such as recommendations and provisions for division of property as well as alimony. Prenuptial agreements mostly go by other names, for instance, premarital and antenuptial agreements. It is important to hire a Chicago prenupital agreement lawyer.
Prenuptial contracts not only require married couples to consider the financial insinuations of marriage, but they help reduce unnecessary conflicts in case the marriage ends through a divorce. Most people will agree that a peaceful divorce means reduced financial burden to both couples.
This agreements also safeguards the couples post mortem wishes in case they die without having a legally written will.
-Requirements for prenuptial agreement
-First, every prenuptial agreement must be documented.
-Secondly, the agreement must be executed at free will.
-Thirdly, the contract cannot be enforced in case it leaves one party disadvantaged in the event of a divorce.
-Lastly, it is compulsory for the prenup to be authenticated.
For more related information, get in touch with Katz & Stefani, LLC a famliy law firm located in Chicago.
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