If you are a normal, ordinary Illinois resident who works hard and pursues the typical or even atypical American dream, you might benefit from a prenuptial agreement. These days, prenups are not just for celebrities or the rich and famous. These agreements do not have to contain weird clauses or address issues only the wealthy fear. Prenuptial agreements have the power to protect anyone, even those without a large amount of assets.
The notion that prenuptial agreements sap the romance out of relationships is falling by the wayside as more and more people adopt a more serious approach to marriage. It is not unromantic to discuss future possibilities before getting married. For many, such discussions are mandatory between two people planning a life together.
Below are a few good reasons average Illinois residents may choose to draw up a prenuptial agreement.
If you own your own business: The business is yours and you have probably worked hard to achieve success. If divorce rears its head in the future, it is wise to protect what you have created on your own.
If you have children from a prior relationship: A prenup can specify which of your assets will go to your children if you die. It can also prevent your children from being disinherited upon your death.
If your betrothed has significant debt: With a prenuptial agreement, you can make sure you will not be responsible for paying off any debt incurred by your betrothed.
If you will be making a personal sacrifice: Whether it is quitting your job or paying for your future spouse’s education, a prenup can ensure you will be compensated for your sacrifice upon divorce.
Seeking mutual protection in a relationship is never a bad idea. If you are thinking about a prenuptial agreement before you marry, a family law attorney can offer you more information about this kind of legal document.
Source: CheatSheet.com, “5 Reasons You Might Want a Prenup,” accessed April 12, 2016