Prenuptial & Post nuptial agreements
Prenuptial agreements and post nuptial agreements are legal contracts that allow parties to agree to the terms of a divorce with respect to their financial assets and with respect to maintenance/ spousal support. Many times, especially between persons that have been married before and have children from a relationship with someone other than the person they intend to marry, a prenuptial agreement is a necessary piece of mind when considering the risks of a divorce. The Illinois Uniform Premarital Agreement Act, 750 ILCS 10 governs the construction, validity, and enforcement of a prenuptial agreement. If a person is contemplating marriage, it is best to consult with a knowledgeable attorney regarding their options with a prenuptial agreement. The prenuptial agreement is entered into before the marriage and becomes effective at the time of the marriage.
If a marriage fails and the parties had a valid prenuptial agreement, one party will attempt to have the terms of the prenuptial agreement adopted as the final orders in a dissolution of marriage proceeding and the other spouse may wish to invalidate the enforceability of the prenuptial agreement.
Post nuptial agreements are legal contracts entered into by the spouses after the parties already married. The Rights of Married Persons Act, 750 ILCS 65 states in section 6 that contracts may be made by any married person and may be enforced against that person to the same extent and in the same manner as if unmarried.
There are specific requirements of a prenuptial agreement and post nuptial agreement in order for each to be considered a valid enforceable agreement and different laws apply. It is important that both parties consult with their own independent attorney in order to understand their respective rights with respect to any contemplated such agreement and in order to protect the validity of the agreement.