![]() Deciding what property is “separate property” (i.e., property that belongs to only one spouse, and will be distributed to only that spouse in the event of a divorce).The following issues are fair game and are commonly addressed in prenups: The Illinois Uniform Premarital Agreement Act, 750 ILCS 10, governs what prenups can and cannot include. A strong prenuptial agreement, also sometimes referred to as an antenuptial agreement, a premarital agreement, or a “prenup”, can head off some of that uncertainty by agreeing in advance about how your assets and liabilities should ultimately be divided. This approach can lead to significant uncertainty for the parties involved in a divorce. ![]() In Illinois, the law requires the “equitable distribution” of property in a divorce, which means that the court will consider a number factors and divide the property based on what it thinks is fair and reasonable. No one gets married with the intention of getting divorced, but it is always a good idea to protect your rights and your property in the event that life does not goes as planned, regardless of your financial circumstances.ĭivorce is inevitably complicated, contentious, and unpredictable. ![]()
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