Full question:
My fiancé and I are planning to tie the knot this winter. Both of us are residents of Illinois and we felt it would be ideal if we could make a prenuptial agreement which is binding. This way we will have everything in order if the relationship turns sour and we can avoid any disputes. But we are confused and blank as to what all goes into getting a prenuptial agreement drafted. What should be the subjects covered, what is the effect of having one and can we make changes later, if necessary?
- Category: Marriage
- Subcategory: Premarital Agreements
- Date:
- State: Illinois
Answer:
The Uniform Premarital Agreement Act (UPAA) encourages the enforcement of prenuptial agreements, and Illinois follows its guidelines under 750 ILCS 10/1 to 10/11. In Illinois, a prenuptial agreement can cover various legal matters, including:
- Rights and obligations regarding property owned by either party
- Management and control of property
- Disposition of property upon separation, divorce, death, or other events
- Modification or elimination of spousal support
- Making a will, trust, or other arrangements to fulfill the agreement
- Ownership rights and disposition of life insurance death benefits
- Choice of law for the agreement's construction
- Any other personal rights and obligations, as long as they don’t violate public policy or criminal statutes
However, a prenuptial agreement cannot adversely affect a child's right to support.
The agreement becomes effective upon marriage (750 ILCS 10/5). If you need to make changes after marriage, you can do so through a written agreement signed by both parties (750 ILCS 10/6). This amended agreement or revocation is enforceable without consideration.
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.