Easy Questions  
Free Legal Documents

Deciding Whether a Pre-Nuptial Agreement is Right for You in Alsip, IL

Deciding Whether a Pre-Nuptial Agreement is Right for You in Alsip, IL


Love is a symbol of eternity. It wipes out all sense of time, destroying all memory of a beginning and all fear of an end.
 
- Author Unknown


A prenuptial agreement is a contract executed by a couple before they marry concerning the ownership of their respective assets should the marriage fail. Nothing kills romance faster than the word pre-nup. On a practical level, with almost half of all marriages ending in divorce, a prenup may be an insurance policy in case things don't work out long term.

Marriage is not just an emotional and physical union, it's also a financial union. A prenup and the discussions that go with it can help place the financial well-being of the marriage on a solid foundation. The contract spells out how assets will be distributed in the event of divorce or death.

Getting to know your assets and property can help make up your mind if need to have a prenuptial agreement before you get married. There are three steps to determine this:

1. Take a Prenuptial Quiz. If you and your spouse-to-be answer yes to any of these questions, chances are having a pre-nup is helpful. If most answers are no, aprenup can still be helpful but not as critical.<.p>

  • Do either of you possess any real estate?
  • Do either of you possess money amounting to $50,000 or more aside from having real estate?
  • Do either of you own a business?
  • Do either of you earn more than $100,000 annually?
  • Do either of you have any valuable employment benefits like stock options or profit sharing or have you earned more than a year's worth of retirement benefits?
  • Does either of you plan to pursue an advance degree while the other one works?
  • Do either of you have other heirs for your estate other than your spouse when you die?


  • 2. Identify Important Issues

    List all the issues you want addressed in a prenuptial agreement. In this way you can check and discuss these issues with your spouse-to-be. These issues may touch upon subjects like separation of property, how to handle money and property during the course of marriage, alimony, or how your property will be treated after death.

    Other common prenup topics may include:

  • Joint or separate property
  • Estate planning issues including leaving family property or provisions for children from previous marriage
  • Handling of separate businesses
  • Separate handling of each person's debts
  • In case of separation or divorce, who gets what, including alimony
  • Income tax returns, filing and allocation of income
  • Who will be responsible for the household expenses and how payments will be funded
  • Managing joint bank accounts and separate bank accounts
  • Specific big ticket purchases
  • Credit card charges and and how payments will be funded
  • Investment and savings plans for the future
  • Arrangements regarding education
  • Agreements regarding the provisions for the surviving spouse just in case the other one passes away.
  • How to settle disagreements in the future


  • 3. Assess your Comfort Level

    On a scale from 1 to 5, with 5 being the highest, how comfortable are you with the idea of having a prenup? How comfortable do you estimate your spouse-to-be will be with a prenup?

    Score of one to two: What are the reasons for your discomfort? Are you unsure whether you are in a better legal and financial position without a prenup vs. with a prenup? Do you know enough about the laws and regulations about prenup in your state? Are you worried about offending your fiancé? Is it possible that the two of you need to be able to talk about difficult matters in a loving way, as a way to pave the way for more open communication with your spouse-to-be in the future?

    Score from three to five: if you are comfortable enough to talk to your fiancé, then go ahead and start discussing the specifics. Discussing it in a level-headed manner can be a good start to see each other eye to eye. Be open about the discussion and don't take all in one go. Take your time, be open minded and build on trust openness and transparency.

     
    Personalize & Print a Free IL Premarital Download this Document
    Page 1
    Page 2
    Page 3
    Page 4
    Page 5
    Page 6
    Page 7
    Page 8
    Page 9
    Page 10
    Page 11
     
    Personalize & Print a Free IL Power of Attorney Download this Document
    Page 1
    Page 2
    Page 3
    Page 4
    Page 5
    Related Legal Services near Alsip, IL
    Anderson & Associates PC
    1 S Dearborn St #2100
    Chicago, IL 60603
    (312) 345-9999
    Attorneys, Divorce Attorneys, Family Law Attorneys
    Lee Mark N Law Offices
    400 NE Jefferson Ave
    Peoria, IL 61603
    (309) 677-9961
    General Practice Attorneys, Attorneys
    Meserow Alan
    135 S La Salle St # 3300
    Chicago, IL 60603
    (312) 269-9922
    General Practice Attorneys, Attorneys
    Kelly John G The Law Offices
    100 W Monroe St
    Chicago, IL 60603
    (312) 407-9900
    General Practice Attorneys, Attorneys, Legal Service Plans
    Zyb & Associates
    10 S La Salle St
    Chicago, IL 60603
    (312) 750-9889
    Immigration Law Attorneys, Attorneys
    Amatore Roy P
    120 S State St # 400
    Chicago, IL 60603
    (312) 236-9825
    General Practice Attorneys, Attorneys
    De St Phalle Alexandria
    1227 S 7th St
    Springfield, IL 62703
    (217) 544-9823
    Attorneys, Malpractice Law Attorneys, Legal Service Plans
    Gault Gordon
    55 W Monroe St # 3550
    Chicago, IL 60603
    (312) 641-9800
    Corporation & Partnership Law Attorneys, Attorneys
    Frank A. Tedesso
    29 S La Salle St Ste 454
    Chicago, IL 60603
    (312) 578-9770
    DUI & DWI Attorneys,  Domestic Violence Attorneys,  Attorneys,  Criminal Law Attorneys,  Traffic Law
    Frank Tedesso
    29 S La Salle St #454
    Chicago, IL 60603
    (312) 578-9770
    Criminal Law Attorneys,  DUI & DWI Attorneys,  Business Law Attorneys,  Civil Litigation & Trial Law
    Keogh Law Ltd.
    55 W Monroe St Suite 3390
    Chicago, IL 60603
    (312) 620-9747
    Attorneys, Consumer Law Attorneys, Product Liability Law Attorneys
    Marc J. Shuman & Associates LTD
    105 W Adams St
    Chicago, IL 60603
    (800) 722-9744
    Accident & Property Damage Attorneys,  Attorneys,  Employee Benefits & Worker Compensation Attorneys
    Goldstein Elliott H
    39 S La Salle St
    Chicago, IL 60603
    (312) 444-9699
    Attorneys
    Kubasiak Fylstra Thorpe Rotunn
    20 S Clark St Ste 2900
    Chicago, IL 60603
    (312) 630-9600
    Mon. - Fri. 9am - 5pm, Sat. - Sun. CLOSED
    Connelly Michael P
    55 W Monroe St # 17
    Chicago, IL 60603
    (312) 251-9600
    General Practice Attorneys, Attorneys
    Locher Bruce
    1212 S 7th St
    Springfield, IL 62703
    (217) 528-9546
    Personal Injury Law Attorneys, Insurance Attorneys, Attorneys
    Adam W Lasker
    8 S Michigan Ave
    Chicago, IL 60603
    (312) 578-9500
    General Practice Attorneys, Attorneys, Legal Service Plans
    Bennett William E
    55 W Monroe St Floor 12
    Chicago, IL 60603
    (312) 444-9411
    Attorneys, Legal Service Plans, Family Law Attorneys, Divorce Attorneys
    Schroeder Steven D
    116 S Michigan Ave # 14
    Chicago, IL 60603
    (312) 781-9408
    Attorneys
    Gajewski Paul A
    39 S La Salle St # 920
    Chicago, IL 60603
    (312) 236-9375
    General Practice Attorneys, Attorneys
    Schwartz Michael
    19 S La Salle St
    Chicago, IL 60603
    (312) 422-9334
    Accident & Property Damage Attorneys, Attorneys, Legal Service Plans
    Clark Anthony
    36 S Wabash Ave # 1310
    Chicago, IL 60603
    (312) 419-9317
    General Practice Attorneys, Attorneys, Legal Service Plans
    Buchana David P Law Office
    135 S La Salle St
    Chicago, IL 60603
    (312) 920-9312
    General Practice Attorneys, Attorneys
    Bandes Corey
    19 S La Salle St # 707
    Chicago, IL 60603
    (312) 456-9309
    Family Law Attorneys, Attorneys
    12Law.com   |  NASHVILLE, TN USA   |  CONTACT US