Who Should Seek a Chicago Prenuptial Agreement?
Chicago prenuptial agreements help couples decide a number of issues prior to walking down the aisle. Chicago prenuptial agreements may be as short or long as the parties like. Commonly, prenuptial agreements cover issues involving property, acceptable marital behaviors, and what may occur if the parties divorce.
At one point in time, it was believed that prenuptial agreements were a tool used only by the wealthy. However, this is not the case. In fact, every couple planning a marriage should consider drafting a prenuptial agreement. Having a prenuptial agreement in place eases the divorce process, should it unfortunately occur. And with a divorce rate of around 50% in the United States, it may be a good precaution to take.
Most couples start off without a lot of property. However, over time, they may inherit land or money, purchase homes, and, with pay increases and bonuses, they may add a vacation home to the mix. If the parties divorce, dividing this property can be tricky. What is marital and what is non-marital? Who gets what? A prenuptial agreement may not only address property the parties own going into the marriage, but also property the parties may acquire during the marriage.
Drafting a prenuptial agreement also facilitates strong communication between couples. Clearly, every couple could benefit from such discussions. The couple may outline what behavior is acceptable in a marriage and what behavior will not be tolerated (adultery, for example). If one partner ends up cheating, he or she cannot argue that the other partner condoned the behavior.
In conclusion, there are significant advantages to creating prenuptial agreements, whether a couple is young or old, and whether the couple has a high income or a low income. In most legal situations, preparation prevents a number of issues, and a marriage is no exception.