There’s a common misconception that prenups are only for high-net-worth couples, but any married couple can benefit from a prenuptial agreement. Spouses can protect their assets by establishing how marital property will be handled both during and after marriage. However, it’s common for financial status to change throughout the course of a marriage, so many spouses might wonder if they can change their prenup. Our highly experienced law firm has the answers you need! Read on to find out how a Tazewell County Prenuptial Agreement Lawyer may be able to help you revise your prenuptial agreement in Illinois.
CAN I REVISE A PRENUPTIAL AGREEMENT IN ILLINOIS?
Yes, you can revise a prenuptial agreement in Illinois in a few different ways. If needed, you can throw out your initial prenup altogether by signing a new agreement with your spouse. Some people also use a postnuptial agreement to make changes to their prenup. A postnup and prenup are nearly identical; the only difference is that prenups are created before marriage while a postnup is created after marriage. Postnups are also usually more detailed in outlining how marital assets would be divided in the event of divorce.
WHY DO SPOUSES ALTER THEIR PRENUP?
There are various reasons why a married couple might choose to change their prenup agreement. Some of the most common reasons include:
- Both spouses don’t want the prenup anymore
- The couple feels that the agreement is inadequate
- Financial circumstances have changed since the prenup was written
- The couple has had children who need to be accounted for in the agreement
- New information has been discovered
HOW CAN I ALTER MY PRENUP?
If you wish to nullify your initial prenup, all you’ll need to do is write and sign a contract with your spouse. It’s easier for both you and your spouse to hire your own attorneys to guide you through this process. You can also hire an attorney to help you legally alter your initial prenup. If you decide to create a postnup or revise your prenup, it’s important to note you may come across some scrutiny by the courts. In some instances, one spouse might coerce the other spouse into changing the prenup. This is another reason why it’s beneficial for spouses to hire their own lawyers. If a judge sees both spouses have representation, it’s likely that both parties agree to the terms.
Are you considering revising your prenuptial agreement in Illinois? Are you seeking a family law attorney who has your best interests in mind? Look no further because Butler, Giruado & Meister, PC is on your side! Contact our compassionate team of law professionals today for an initial consultation.