Des Plaines and Hoffman Estates Law Firm Frequently Asked Questions Video
What is a prenuptial agreement?
Prenuptial agreement is basically a contract between two individuals who are planning to get married.
Typically it’s a situation where one party or maybe both parties wants to protect assets that they’ve obtained before marriage, and also wants to protect assets that they obtain during marriage in the event the parties divorce. In other words, let’s say the future wife wants to protect anything that she obtains during the marriage from having to be split up as marital property at the time of divorce, you’re entering into a prenuptial agreement.
It’s pretty simple. The rules with respect to what constitutes a binding prenuptial agreement can be a little hinky at times, but it’s basically a contract that’s going to be evaluated like a contract for the most part although there are very specific exceptions to what constitutes a valid or invalid prenuptial agreement.