Premarital or Pre-civil Union Agreements
A Premarital or Pre-Civil Union Agreement if done properly, is an enforceable contract in Illinois. If you or your spouse or partner should ever file for divorce, a premarital or pre-civil union agreement can save you considerable time and the expense of protracted divorce litigation. You and your spouse or partner will already have agreed on a settlement that is fair and equitable.
In such an agreement, you decide what is or is not a marital asset. You decide what is or is not a marital debt. You are not subjected to definitions set forth in statutes. You have control over the division of assets and debts in the event of divorce or death.
If you have been divorced in the past, you know that retirement assets are subject to property division. A premarital or pre-civil union agreement can protect those assets in the event you re-marry or enter into a civil union and losing your retirement assets is something you can no longer afford to do.
Maintenance or spousal support is more acceptable now than it was in the past for any length of marriage or civil union. You can decide whether you will or will not pay or receive maintenance upon divorce.
Your estate plan, should you have one, can incorporate the premarital or pre-civil union agreement. Your estate plan will no longer be subject to the contingencies that typically accompany a divorce.