Entering into marriage is typically considered a lifelong commitment. However, not all couples stay together “‘til death do us part.” Statistics show that between 40 and 50 percent of all U.S. marriages end in divorce. That is why some partners decide to do a civil union instead of getting married. In either situation, there are two legally binding options to protect their interests. A prenuptial agreement is a legal document that specifies ahead of time how certain marital issues will be resolved in case the couple decides to part ways. A postnuptial agreement can address the same issues, but it is created after the wedding takes place. For those who may have not preplanned, a postnup can give them peace of mind in case of a breakup.
Reasons for Creating a Postnup
There may be various reasons why a couple wishes to make a postnuptial agreement. They may want to document their wishes so they are known in case something happens to either of them. Three major factors that could lead to the creation of a postnup may be because a couple:
- Did not have time before the wedding to create a prenuptial agreement
- Are estranged but willing to work on the marriage
- Want to change/amend an existing prenuptial agreement
Items You Can Include in a Postnup
Postnuptial agreements are governed by the Illinois Marriage and Dissolution of Marriage Act in Illinois. Pre- and postnuptial agreements aim to preserve existing marriages by eliminating potential disputes, but they also protect each spouse’s best interest in the event of a divorce or separation. A few of the main topics that are covered in a postnuptial agreement include but are not limited to:
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