Mutually Beneficial Prenuptial Agreements in Illinois

Article written by Illinois Attorney Kevin O’Flaherty

In this article, we explain how prenuptial agreements can be mutually beneficial in Illinois. We explain prenuptial agreements for middle class families, prenuptial agreements for second marriage, prenuptial agreements for business owners, and using prenuptial agreements to resolve financial issues in advance. We also answer the question, “what should be included in a prenuptial agreement?

Prenuptial Agreements For Middle Class Families

Many people assume that prenups are established by wealthy bachelors and bachelorettes that are born into privilege or have already made a name for themselves, becoming successful and financially sound. This is a common misconception. Prenuptial agreements are actually on the rise, and they are trending in the “millennial” generation. Many people that would not be considered “wealthy” have assets they want to protect, regardless of their standard of living.

Since premarital agreements can be invalidated by the court if the document was signed under duress or found unconscionable (meaning the contract is oppressively and unreasonably one-sided and the disadvantaged party was deprived of any intelligible choice at the time the contract was signed), prenups should…