In two previous articles, “What is a postnuptial Agreement?” and “Do I Need a Postnuptial Agreement?”, we advised that a postnuptial agreement, also known as a post-marital agreement, is a legal contract entered into by a married couple after they are married. Like a prenuptial agreement (signed before marriage), a postnuptial agreement outlines the distribution of assets, debts, and other financial matters in the event of a divorce or legal separation.
We further advised that the main purpose of a postnuptial agreement is to establish clear expectations and protect the rights and interests of each spouse in case the marriage ends. Finally, we discussed the issues that are generally addressed in a postnuptial agreement to reach said objective.
It’s important to note that postnuptial agreements are not universally enforceable, and their validity depends on the laws of the specific jurisdiction where the couple resides. Some factors that might affect the enforceability of a postnuptial agreement include:
1. Full Disclosure: Both spouses must provide complete and accurate financial information when entering the agreement.
2. Voluntary Agreement: The agreement should be entered into voluntarily by both parties without coercion or duress.
3. Independent Legal Counsel: Each spouse should have the opportunity to seek the advice of their own separate attorney before signing the agreement.
4. Fair and Reasonable Terms: The terms of the agreement should be fair and reasonable, and not unconscionable or heavily one-sided.
Postnuptial agreements can be useful for couples who want to address financial matters and protect their interests in the event of a divorce. However, it’s essential to consult with a family law attorney to understand the laws in your jurisdiction and to ensure that the agreement meets the legal requirements for validity.
If you have any questions about postnuptial agreements in Illinois, or any other divorce and/or family law matter, contact our attorneys at the Law Offices of Azita M. Mojarad, P.C. by calling (312) 641-0771, or emailing firstname.lastname@example.org. Our experienced attorneys can address your concerns and advise you of the proper course of action.