Prenup can help in the event of divorce for multiple reasons

 Posted on February 18, 2016 in High Asset Divorce

Prenuptial agreements have become increasingly common in recent years. This is especially true in the cases of blended families or second marriages, or for people who wish to protect businesses, inheritances or family gifts. Prenups are valuable during the divorce process in Illinois for a few reasons.

Many individuals today are still hesitant about getting prenups because they fear pushback from their partners or family members. They also fear disclosing information to attorneys, dealing with unresolved relationship issues or revealing embarrassing financial choices. However, one good reason to get a prenup is that it helps two people before they get married to determine both alimony and property settlement payments in the event they get divorced.

When a couple gets divorced in Illinois, their property is usually divided under the state's laws. However, a prenup essentially makes these laws inapplicable, substituting the prenup's terms. Couples can come to an agreement in advance about what will make the most sense for them.

Other benefits of getting a prenup is that it forces a couple to discuss their finances before getting married, with finances being a leading cause of stress in a marriage and ultimately divorce. Furthermore, the process of developing a prenup will also give two people a crash course in communication. Consistent communication can help decrease the potential for unwanted surprises in a prenup as well as help both parties to better understand each other's motivations, needs and concerns before they get hitched. Proper legal guidance may help people create a prenup that enables them to protect their assets in case they get divorced in the future.

Source: Time, "3 Good Reasons to Get a Prenup", Tracy Craig, Feb. 11, 2016