Marital negotiations are essentially contractual agreements between two people who pave the way for the process to be followed at some point in the future in the event of a divorce. These agreements are generally respected by Illinois courts. A conjugal or post-marital agreement identifies marital or non-marital properties. A marriage or post-uptiale agreement can also enter into agreements related to spousal assistance and even add some delays. For example, if the couple divorces within five years, the man will pay $500,000, but if they divorce within 10 years, the husband will pay $1 million.) If one or both parties to a marriage possess or expect, during their marriage, to acquire such assets, a matrimonial agreement may help to protect these assets from division by the courts in the event of divorce. Far from being a harbinger of impending marital loss, a marital agreement is not only a wise and reasonable step to protect itself if the marriage dissolves, but it gives both parties a clear understanding of what they can expect in the event of divorce. However, under Illinois law, marriage contracts cannot cover child custody or child custody issues, including legal fees that are part of child custody or support fights. For example, the agreement cannot prescribe what is paid for in the care of the children or arranges a visit. On the contrary, pre-marriage agreements can only cover financial matters such as asset allocation and subsistence, income, pensions and pensions, as well as legal fees for financial matters arising from divorce.
A wedding is a way to protect your property if your current marriage fails in the years to come. If you have significant assets or expect to receive significant assets during the marriage, it is worth considering a pre-marital contract. You should consider consulting a Chicago lawyer before your wedding. Not only can such a deal save thousands of dollars in legal fees if your marriage ends – it can literally save the remnants of your relationship and help you separate amicably. To simplify, a marriage pact is a binding and enforceable contract that two potential spouses enter into and sign while waiting for their next marriage. As a general rule, a marital agreement will detail the division of property and property that the parties agree to if one of the parties seeks divorce. A marriage agreement may also determine whether one party receives a living allowance from the other and, if so, how much and under what circumstances. In the event of marriage and divorce, the stakes are too high to leave vital considerations to the riddles.
Our firm provides documents that leave nothing to chance. Whether it`s drafting a first document or reviewing an agreement, we can make sure that your rights are protected and that nothing goes unnoticed. Experience shows that Ms. O`Connor and Ms. Anixter have more than 30 years of experience in family law and divorce. We know marriage and divorce by heart, from the making of pre-marriage agreements to the final divorce decree. One of the common objectives in the preparation of a marriage agreement is the granting of property to children from a previous marriage. While Illinois divorce laws have a clear definition of what constitutes marital property, spouses may accept their own characterization, which characterizes certain assets as marital or non-marital.