What is the general process of prenuptial agreements?
There are a lot of last-minute details that pop up when you’re in the throes of wedding planning; however, prenuptial agreements in Rolling Meadows shouldn’t be left to the last minute. When you are planning a prenuptial agreement, you will want to consider the following during the process:
- Prior to the marriage, you should make a list of all assets owned and debts owed. Both spouses need to make full disclosure. It needs to be determined how these will be handled during the marriage and in the event of a divorce.
- A determination needs to be made as to how marital property, which are the assets and debts that will be accumulated as a couple, will be handled in the event of a divorce.
- Many times couples have different styles for managing money, so the management of assets and income should be determined ahead of time.
- Both parties need to be upfront about their credit scores, and whether they have old debt and how they feel about accumulating new debt.
- Views on non-monetary contributions, such as raising the children or managing the household, should be addressed up front.
- Maintenance, or alimony, is a reality often faced by one spouse in the case of divorce. This should be discussed ahead of time.
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It can be difficult to address these issues when a couple is trying to plan a romantic wedding, but for a prenuptial agreement to happen, these topics must be discussed. Contact your attorney in Rolling Meadows for more information.