After you get married, you might sit down and think that you should have created a prenuptial agreement. Your spouse has debt, you have debt and you want to protect the assets you collect over time.
One thing you can consider is called a postnuptial agreement. A postnuptial agreement is essentially the same as a prenuptial agreement. The difference is that the agreement is arranged after you’re married.
In some ways, a postnuptial agreement is easier than a prenuptial agreement. Why? You aren’t facing the anxiety of marriage and worrying about your spouse thinking you don’t trust them or vice-versa. After marriage, you can sit down and say you’d like to work out a plan on how to protect one another from each other’s decisions and to guarantee protection if you ever decide that a divorce is an option.
Illinois is an equitable distribution state, which means that your assets are divided fairly, but not necessarily equally, upon divorce. With a postnuptial agreement, you and your spouse can decide what you’d like to see happen to your assets if a divorce were to take place. This is a great time to discuss what you’d want in a divorce since you are both happy together and in a place where you can speak calmly and rationally. Rationality and calmness are often missing in divorce.
Our site has more about important documents like prenuptial and postnuptial agreements. With some help, you can discuss this important document with your spouse and create an agreement that strengthens your marriage and protects you in divorce.