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St. Charles family law attorney postnuptial agreement

Most people are familiar with the concept of a prenuptial agreement, if for no other reason than the media attention given to many high-profile marriages and divorces. Postnuptial agreements are not as well-known, but they are a viable option for many married couples when the partners have assets they wish to protect. Although they are not necessary for every marriage, it may be worth considering whether a postnuptial agreement is a good choice for you and your spouse.

What Can a Postnuptial Agreement Include?

Postnuptial agreements can address many of the same matters as prenuptial agreements, with the primary difference being that prenuptial agreements are established before the partners are legally married, while postnuptial agreements are established after. Some specific items that you may want to address in a postnuptial agreement include:

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St. Charles family law attorney prenuptial agreement

If you own a business prior to getting married, it is only natural that you would think about how your marriage will impact your business assets and operations, even in the happiest and healthiest of relationships. You have likely invested significant time, money, and effort into building the business up to its current state, and want to ensure it remains in good hands throughout your marriage and in the event of a future divorce. One way to protect your business assets is to pursue a prenuptial agreement with your soon-to-be spouse.

Benefits of a Prenuptial Agreement for Illinois Business Owners

Though it may be difficult to broach the subject of a prenuptial agreement with your partner, failing to be upfront with your needs can lead to problems in your marriage later on. An open discussion about finances can clarify where each of you stands and may help you both feel more comfortable about your marriage. For business owners, a prenuptial agreement offers several benefits, including:

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St. Charles family law attorneysA postnuptial agreement, or postnup, is a legally binding contract that can be executed after a couple finalizes their marriage. Similar to a prenuptial agreement, a postnup can help two individuals identify marital and non-marital assets following a divorce. Although the introduction of this topic might upset a spouse, a legally binding document may be beneficial for both parties. If a dissolution of marriage were to take place, having an agreement in place could expedite the process and better prepare each individual for the future. 

Why Should I Establish a Postnuptial Agreement?

When the thought of a postnuptial agreement goes through an individual's head, a preconceived notion of a failed marriage can quickly resonate. Although it may be simple to make that connection, it is oftentimes not true. Before a marriage is enacted or if situations start to change, the idea of planning for your future could be favorable for both members. 

A postnuptial agreement may be beneficial if:

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