Premarital and Prenuptial Agreements

Conniff & Keleher helps clients create premarital and prenuptial agreements in Illinois, including Chicago and Oak Park. A well-drafted prenup can clarify financial expectations, protect separate property, and reduce conflict if the marriage ends due to divorce or death.

A premarital agreement, also known as a prenuptial agreement, allows for an efficient distribution of assets belonging to the parties and to the marriage. A premarital agreement typically only takes effect in the unfortunate event of divorce or death.

It is helpful to think of premarital agreements like health insurance. Just as buying health insurance does not indicate that a person expects to become ill, entering into a prenuptial agreement does not indicate that a person expects his or her marriage to fail. Like health insurance, a prenuptial agreement signifies that, should an unfortunate event occur, the parties are prepared and have planned to protect themselves from further harm.

Division of property is often the most expensive part of any divorce. A premarital agreement allows parties to decide ahead of time how their assets (whether acquired before or during the marriage) will be distributed and will protect the parties’ much needed resources as they transition into separate homes. A premarital agreement is not only for affluent individuals; it’s a valuable device for anyone who would rather spend a little money now as a preventive measure to potentially save thousands of dollars in future attorneys’ fees.

Why Work With a Prenuptial Agreement Attorney in Illinois? 

A prenuptial agreement is only helpful if it is enforceable. Working with a prenuptial agreement attorney in Chicago or Oak Park can help ensure the agreement is drafted properly and aligned with Illinois legal requirements, including expectations around disclosure and fairness. 

A premarital agreement may help you: 

• Protect separate property and clarify what remains non-marital 

• Define how assets and financial obligations will be handled during marriage 

• Reduce uncertainty and limit disputes if a divorce occurs 

• Create clear expectations for both parties before the wedding

Under Illinois Law, a premarital agreement requires full disclosure of each party’s property and financial obligations. The mandatory disclosure allows each party to make an informed decision regarding the property rights he or she is relinquishing in the event of divorce. Additionally, the courts will not enforce a prenuptial agreement without carefully scrutinizing the terms and taking into consideration events that could not have been foreseen at the time the parties entered into the agreement.

What to Expect When Drafting a Prenuptial Agreement 

Every situation is different, but most premarital agreements follow a similar process. Working with an attorney can help you move through each step efficiently and avoid issues that may create enforceability concerns later. 

The process commonly includes: 

1. Financial disclosure from both parties 
2. Review of assets, debts, income, and financial priorities 
3. Drafting agreement terms for separate and marital property
4. Negotiation and revisions to confirm mutual understanding
5. Final signing well in advance of the wedding date