A postnuptial agreement is like a prenuptial agreement in that it describes how a couple’s finances will be split after a divorce. The key difference is that a prenuptial agreement happens before the marriage begins, while a postnuptial agreement takes place after a couple is already married.
Married couples who want to protect their assets in case of divorce should consider a postnuptial agreement. For more information on postnuptial agreements, hiring an attorney can help. They can provide insights on what should be written in the agreement and help prepare the paperwork if necessary.
Reasons For a Postnuptial Agreement
The primary reason for a postnuptial agreement is to safeguard current assets from needing to be divided in a divorce. Property rights not settled in advance by mutual agreement will see them settled through negotiations at the time of divorce or via the Illinois Marriage and Dissolution of Marriage Act.
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