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Lake County Illinois Prenup Attorney
A prenuptial agreement specifies what will happen if you should get a divorce or if one of you dies and your estate must be probated. Premarital agreements are an effective, legally sound means for protecting assets, assigning debts and electing certain designations for the purposes of probate. As a result, a full financial disclosure on the part of both prospective spouses is necessary. Additionally, to avoid a conflict of interest, each spouse must be represented by his or her own lawyer. While a prenup is subject to approval by the court in a divorce, it allows one or both prospective spouses to exempt certain assets brought into a marriage, as well as retirement benefits or an inheritance. An Illinois prenuptial agreement helps protect your financial interests while making it clear from the start what will be retained by each spouse in the eventuality of divorce.
If you are interested in a premarital agreement and are unsure where to start, contact Libertyville, Illinois prenuptial agreement attorneys at Strauss & Hoyt, LLC today.
How can a Prenuptial Agreement help Me?
While it’s true that a prenup can’t cover everything, it can provide an inventory of assets that can be tracked after a co-mingling of assets. A prenuptial agreement allows you to specify whose name is on what accounts and who is responsible for certain debts brought into a marriage.
First Steps in Creating a Prenuptial Agreement
The first thing to discuss with your prospective spouse is a full financial disclosure of each other’s finances. This begins with requesting a credit report and sharing all pertinent information with each other through your respective attorneys.
At Strauss & Hoyt, LLC we help clients through each phase of a prenuptial agreement.
To schedule an appointment and learn how we can help you, contact Libertyville, Illinois prenuptial agreement attorneys at Strauss & Hoyt, LLC today.