When you marry someone, you cannot be sure that the relationship will last forever. Nowadays, many couples in Illinois create a document establishing the basic rules of the division of the assets in case of divorce: the Illinois prenuptial agreement form.
Whether you are in Illinois or any other part of the country, this form clarifies what happens with both partners’ properties if they break up. It helps to avoid disputes and scandals because everything is settled in advance.
It is worth mentioning that you and your future spouse can regulate only money-related issues with such agreements. Your kids’ future cannot be reflected in these forms; only the court can determine the kids’ support if you decide to get divorced.
This document is unnecessary, but today, more and more couples use prenuptial agreement template to protect their properties. The form’s content is tied to the couples’ assets and debts, tax matters, future financial support in case of divorce, regulations applicable if one of the spouses dies, and other vital issues.
People sign the agreement before the wedding, and the record becomes valid from the day they have officially married. The key goal is to agree on what will be normal both for the marriage and if the couple splits up: how to share the property gained during the matrimony, who will pay taxes, what to do with debts, and so on.
Society used to call prenuptial (or “prenup”) agreements stupid and criticize them in the past. However, nowadays, the popularity of such documents is increasing. People have become more realistic and are not afraid to break their marriage commitments, get divorced, and marry again.
For instance, some decades ago, many women were not as independent as they are today. They are not scared to leave their husbands anymore because their income allows them to live separately and provide for themselves.
Another common reason to sign such agreements is the wealth of one of the partners. Depending on the relationship, the document can regulate property sharing fairly or in a way appropriate for both potential spouses.
To create a valid agreement with your partner, you shall accomplish three simple steps:
1. Discuss the Idea of Signing Such a Form
Your partner might be against these agreements in general. Before showing them the template, explain why you consider the document essential for your upcoming marriage. If your arguments are convincing, you do not start a fight and explain everything calmly, your partner will most likely accept your point of view.
2. Draw the Agreement Template
The second step is to discuss all conditions that suit both spouses’ interests. Imagine that the divorce occurs, and you have to split all the assets you have gained together. Also, remember to disclose your finances to each other.
Our form-building software will assist you in getting the proper Illinois prenuptial agreement form. You can download the file to get an idea of the form’s content and create your own document easily.
3. Notarize the Form (If Needed)
In some American states, the agreement is valid only if you have notarized it; some states also require a witness or two. Keep reading to understand if you should do any of that when you and your partner prepare the agreement in Illinois. We will also provide you with the info about other relevant laws in the state.
Chapter 750 of the Illinois Compiled Statutes is fully dedicated to the families’ matters. The provisions telling about prenuptial (or premarital) agreements in the state are given in Sections 750 ILCS 10/1–750 ILCS 10/11.
You and your partner should both leave your signatures in the agreement, and the document itself should be in written form as explained in Section 750 ILCS 10/3. Therefore, notarization or witnessing of prenup agreements is not compulsory in Illinois.
Section 750 ILCS 10/7 describes the reasons to consider a prenup agreement unenforceable. It can happen if the agreement was not signed voluntarily or the parties did not fairly disclose their properties and debts before signing. Section 750 ILCS 10/6 provides info on the contract revocation.
The court will not consider your agreement if it contradicts the law.
Section 750 ILCS 10/4 lists in detail all legal matters that a couple can cover in their agreement. This section also states that the agreement cannot affect the children’s support in any way.