I Never Signed a Prenup. Did I Lose My Chance?

 Posted on April 16, 2024 in Prenuptial and Postnuptial Agreements

A prenuptial agreement is a legally binding document that some couples sign before marriage. It outlines the rights and responsibilities of each party in the event of a divorce, the most important of which is usually asset division. A prenuptial agreement can help make many parts of the divorce process go smoother because many issues have already been settled.

Signing a prenuptial agreement can improve your chances of having an uncontested divorce, which is when both parties agree on all parts of the divorce. Still, many couples shy away from signing an agreement because it is emotionally difficult to discuss the end of the marriage.

If you got married without signing a prenuptial agreement, the first step is to contact a qualified family lawyer in Illinois who can help you draft a postnuptial agreement.

What is a Postnuptial Agreement?

A postnuptial agreement is like a prenuptial agreement except it is signed after marriage. Under Illinois law, a postnuptial agreement addresses certain issues that can come up if the couple gets divorced or if one of the spouses dies. It can, for example, determine:

• The rights and responsibilities of each spouse regarding property belonging to each of them and both of them jointly

• Any provisions surrounding spousal support, also known as alimony

• How assets will be divided between the spouses

• How certain assets should be distributed among children as inheritances

Is a Postnuptial Better Than a Prenuptial?

A postnuptial agreement can have certain advantages over a prenuptial agreement. Once you have established a marriage, you may be more aware of the types of issues and disputes that can arise during a divorce. This can help you draft a more robust agreement.

For example, a prenuptial agreement may not take into account children that are born after the marriage, and you may find that you want to give specific assets to certain children. Your assets also may grow significantly during the marriage. Furthermore, one or both spouses may go through significant career changes that impact how the agreement addresses spousal support.

Contact a Schaumburg, IL Family Lawyer

If you did not sign a prenuptial agreement, you can still sign a postnuptial agreement during your marriage. Doing so can increase the chances of a divorce being uncontested, amicable, and civil. While disagreements may still arise concerning any minor children you may share, many of the issues that normally trigger disputes between divorcing couples will have already been agreed upon. To have a robust and effective postnuptial agreement, make sure to work with an experienced Schaumburg, Illinois family law attorney. A. Traub & Associates offers high-end legal services and has strong experience in drafting prenuptial and postnuptial agreements. Call 630-426-0196 today to speak to an attorney with a professional and friendly approach.