Many millennials start out their adult lives carrying student loan debt coupled with sky high rents and car payment causing many to put off significant milestones such as marriage and children or buying a home. Because financial difficulties are often one of the leading contributors to divorce, when millennials finally do decide to take the…Read More
Before You Sign a Prenuptial Agreement
If you have been asked to sign a prenuptial agreement, first and foremost, it is important to have your own attorney look it over to protect your interests. That said, there are basic considerations that apply to mostly all prenups: They must be in writing and signed by both parties They must be entered…Read More
Second Marriage Prenup
For older couples contemplating remarriage following a divorce, it is important to think through the financial, legal and other issues associated with marrying later in life. Some older adults may be in their peak earning years when considering remarriage, so it is important to consider what your tax burden might be if you decide to…Read More
Many Millennials Wait to Marry
Despite widespread acceptance for cohabitation outside of wedlock and unmarried woman raising children on their own, many continue to view divorce unfavorably according to a CDC survey. In fact many young people, who have the lowest marriage rates on record, do not think divorce is an acceptable response to marital problems. A conservative view in…Read More
Prenups Not Just for the Wealthy
Antonio Banderas will pay $65,000 in monthly alimony to his ex-wife, fellow actor Melanie Griffith, as part of their divorce settlement. The property settlement accounts for two different periods in the couples marriage. From 1996 to 2004, the marriage was governed by a separation of assets. In 2004, the couple signed a post-nuptial agreement agreeing…Read More
Illinois Prenuptial Agreements on the Rise …Same-Sex Premarital Agreements Trending
Before you marry and during the marriage, it pays to stay on top of your assets. This rule applies to multimillionaires and small business owners alike. A prenuptial or premarital agreement may be crucial to your finanacial security and must be executed carefully to avoid being thrown out by a court when relationships end in…Read More
Invalidating Prenups in Illinois
When a party desires to challenge a prenuptial agreement in Illinois, different standards apply depending on when the parties entered into the agreement. The principles of the Illinois Uniform Premarital Agreement Act (“IUPAA”) govern any agreement executed on or after January 1, 1990, while common law controls any prior agreements. A premarital agreement covered under…Read More
