On behalf of The Walters Law Group, Ltd. posted in Divorce on Wednesday, July 24, 2013.
In a recent “Fox and Friends” television segment, a noted legal analyst stated that two groups of people are considered to be the most likely to avail themselves of pre-nuptial agreements: those who marry for the second time and those who marry later in life. Couples in Illinois and across the country might be interested to know that “prenups,” as they have become known, are considered a good idea.
According to the analyst, the most important ingredient in such an agreement is the total disclosure of assets and liabilities. He also advocates that both potential spouses are each represented by their own attorneys. Despite the fact that couples are optimistic at the time they tie the knot, it remains an indisputable fact that slightly less than half of all marriages end in divorce. Although the rate for second marriages and later-in-life unions is slightly less, many people consider the idea of a prenup to be a sound one.
If a marriage ends in divorce, many questions will need to be answered. Spouses may wonder about figuring out what each person’s debts and assets are, which assets will be belong to which spouse, how the joint credit card debt will be split and how the house and other property will be divided.
An experienced Chicago family law attorney may be able to help. A divorce is rarely what married couples intend or desire when they start out, and the emotional stress may take a toll on couples. Prenuptial agreements may give the soon-to-be-married couples peace of mind as they prepare for a life together. Attorneys may be able to advise each spouse about all legal issues involved in drafting a prenup in order to make sure they are fairly provided for in the future in case of a separation down the road.
Source: Huffington Post, “Prenup Tips: ‘Fox And Friends’ Tackles Prenuptial Agreements“, July 18, 2013