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postnup, Illinois divorce, Kane County Family LawIt is very common today to hear about couples, particularly those who are very wealthy or celebrities, refusing to marry without a prenuptial agreement. For many, it is rather understandable, as most prenuptial agreements help delineate which assets may or may not become part of the marital property along with other possible considerations. One of the potential drawbacks to relying solely on a prenuptial agreement, however, is that, by definition, the agreement must be finalized prior to the marriage. Unforeseen issues and opportunities that may develop over the course of the relationship may be better dealt with by means of a postnuptial agreement instead.

A postnuptial agreement is a cooperative effort between spouses to formally outline the responsibilities and obligations of each party. It is established after the marriage, and in some cases, many years after the beginning of the marriage. Like most prenuptial agreements, a postnuptial agreement can help a couple prepare in the event of divorce, but more than that, such an agreement can contribute to a more fulfilling marital situation.

Take an Objective Look at the Marriage

Geneva family law attorney, marriage trends, postnuptial agreements, prenuptial agreements, postnupStudies have shown that financial problems continue to be one of the main causes of divorce. When looking at marriage as a contract, financial matters are automatically an issue. A majority of people are familiar with prenuptial agreements and their focus on protecting assets when entering into a marriage, but fewer may be as familiar with the actions of a postnuptial agreement.

A postnuptial agreement is as it sounds. It is a contract between a married couple and is created after the time of a wedding. Either type of agreement may address the following:

  • Assets;
  • Liabilities;
  • Income;
  • Ownership of property or residence;
  • Treatment of inheritances or trusts; and
  • Alimony details or spousal support.

According to a CNN.com article, postnuptial agreements are starting to increase in popularity. Over half of the attorneys surveyed by the American Academy of Matrimonial Lawyers reported an increase of postnups over a five-year period. There are several reasons experts point to as reason couples might choose this route, but one main factor is to determine how to handle finances in the future. The creation of a postnup does not mean an impending divorce. But in many cases, it is the prevention of one.

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