Full question:
I never thought that my marriage would come to an abrupt end. We were married for almost 14 years and we were in our mid-30s when we got married. Both of us were married once before and had a kid each from those. We knew what entails a divorce. Therefore, we made a prenuptial agreement which stated that each of us would keep our earnings and property separate even during the marriage and neither of us would give the other any right over them in the event of a divorce. My wife now has filed for a divorce in the Chicago. During the marriage, all the expenses, from children’s education to our investments, were taken care of by liquidating my assets and properties. My wife has all her assets intact while I am left with nothing. Is it possible to recover those expenses from my wife’s assets in the divorce settlement?
- Category: Divorce
- Subcategory: Property Settlements
- Date:
- State: Illinois
Answer:
In a divorce, Illinois law distinguishes between separate and marital property. According to 750 ILCS 5/503(a), property acquired by either spouse during the marriage is presumed to be marital property, unless there is a valid agreement stating otherwise. Your prenuptial agreement, which specifies that each spouse's property remains separate, is enforceable under Illinois law (750 ILCS 10/4). This means that you cannot claim your wife's assets in the divorce.
Additionally, while you can include various provisions in a prenuptial agreement, the right of a child to support cannot be adversely affected by such an agreement. Therefore, any expenses you incurred during the marriage that were covered by liquidating your assets may not be recoverable from your wife's separate property due to the terms of your prenuptial agreement.
This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.