Undoing The Taboo of the Prenuptial and Postnuptial Agreement – Why is it important? 

You are in the exciting phase of your engagement, finalizing all of your wedding plans when your fiancé says to you, “We should really consider getting a prenuptial agreement to protect our assets in the event of a worst-case scenario.” You feel instantly defensive and attacked, and you’re worried that your soon-to-be spouse is already thinking about divorce. Take a breath. Prenuptial agreements are becoming increasingly common, and in reality, your fiancé is right. The suggestion from your fiancé is a practical one, not a pessimistic one.

“We should really consider getting a prenuptial agreement to protect our assets in the event of a worst-case scenario.”

A prenuptial agreement is simply a legal document that outlines how your assets, debts, and other financial matters will be handled in the event your marriage ends. Rather than planning to fail, it provides you and your spouse with clarity, transparency, and peace of mind for both of you. 

Family law attorneys are seeing a noticeable increase in the number of prenuptial and postnuptial (the same agreement, just after the marriage takes place) agreements drafted in recent years. There are several reasons for this trend: people are getting married later in life and coming into the marriage with an established career and assets; people are entering into their second marriage and want to avoid financial litigation they went through in the past; or, people are just realizing that proactive planning is simply a smart decision.  

Drafting the prenuptial agreement is usually a very amicable and straightforward process. In most cases, the couple has already discussed what they would like in the document and what they would like to protect in the event of a marriage termination. Each party should have their own attorney to help them understand the process and to fully consult with them on their rights and legal implications. The process begins with basic financial disclosure. This means that the parties share the last few years of their tax returns, earning statements, paystubs, and current values of their assets and their debts. Once that is complete, one of the attorneys will take the lead on drafting the prenuptial agreement, and both sides can negotiate until it is finalized. 

A common misconception is that this is a process that happens in Court. It does not. Once the prenuptial agreement is finalized, the parties will meet with their attorneys for the official signing, which typically occurs in an attorney’s office, or it can be done by Zoom. It takes about 10 minutes in an attorney’s office to sign in the presence of a witness and your attorneys, and you are done! 

So, what actually goes into your prenuptial agreement? Although each prenup is specifically tailored to each couple, common provisions include how you identify your non-marital property, which is typically anything you have acquired prior to the marriage. You will discuss if this property will stay entirely non-marital, even during your marriage. The document will also discuss what you will identify as marital property, and how that will be divided in the event of a marriage termination. You will also discuss the allocation of debts, maintenance (alimony/spousal support in Illinois), the treatment of business interests, and estate planning considerations, including protecting children from prior relationships. 

Create peace of mind.

All in all, a prenuptial agreement is not about expecting your marriage to end in divorce. The document helps you and your fiancé create certainty and reduce conflict in the event of those worst-case scenarios. By tackling these issues head on prior to the marriage, you can move forward in confidence, knowing that you’ve protected yourself, your soon-to-be spouse, and your children. This creates peace of mind that allows you to focus on what really matters, which is building a life together.