On behalf of The Walters Law Group, Ltd. posted in Divorce on Wednesday, October 10, 2012.
Each year, countless numbers of couples throughout the Chicago area decide to marry. In some of these situations, to safeguard assets and property brought to the marriage, couples decide to sign prenuptial agreements. This is particularly true when the ensuing marriage is considered to be one of high-net-worth.
Prenuptial agreements are designed to outline the division of assets should the marriage being entered into, fail. In some cases alimony and child support are addressed as well. When they work as planned, such agreements can make what would otherwise be a contentious split, go much more smoothly. There are however some situations where the prenup may be deemed of no use.
The first instance is when one of the spouses did not provide accurate information regarding the assets brought to the marriage. Another situation where a prenup will not stand in court is when one of the spouses is coerced into signing the agreement. A third example of behavior that would render a prenuptial agreement null and void is if any of the conditions found in the agreement could be considered unenforceable. An example of a clause like this would be if one of the spouses tried to contractually get out of paying child support in the agreement.
It is important for divorcing couples who have prenuptial agreements to recognize that often fairness ultimately trumps all else in a dissolution situation. For that reason, if a spouse feels that the agreement is not fair, it is probably worth it to consult a family law attorney.
Source: Reuters, “Breaking up is hard to do, breaking prenup is harder,” Geoff Williams, Oct. 5, 2012
- Family law matters can be complex. Our firm provides counsel in these types of matters. Please visit our Chicago divorce page to learn more about us.