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A well-crafted prenuptial agreement can protect your assets

A prenuptial agreement can outline asset division in case of divorce
Illinois is an equitable distribution state. That means that during a divorce, the courts will do their best to fairly divide all marital assets between the two spouses. For those who enter into a marriage with substantial assets, marital assets can become complicated. For example, if you own stocks or investment properties, those will remain yours after a divorce. Income or profits from those assets, however, could be subject to division. With a prenuptial agreement, you can determine ahead of time what assets would get shared with your spouse and which ones would get protected from division.Your prenuptial agreement should address what assets will get shared. You should also discuss what you want from a spouse. You can even set different expectations for asset division depending on the length of your marriage or the number of children you have. You can also use a prenuptial agreement to help reduce the risk of bad behavior from either spouse during the marriage. Your prenuptial agreement can include protective or penalty causes in the event that your spouse becomes abusive, develops substance abuse or gambling issues or has an affair during your marriage.

Instead of worrying that a prenuptial agreement seems unromantic, look at it as an opportunity to ensure you and your fiance agree about important aspects of your marriage, such as fidelity and how big of a family you want. You reduce the risk of marrying someone with intentions on your wealth and protect yourself and your financial future in the event that your marriage ends unexpectedly.

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