Increasingly, signing a prenuptial agreement before saying "I do" appears to be far from uncommon for Illinois couples. Less common, however, is the sunset provision. A sunset provision can provide an expiration date for a prenuptial agreement or mandate that certain assets not be included in asset division if a marriage didn't last long enough. If the couple remains married for a set amount of time according to a sunset provision before dividing to divorce, the agreement may no longer be enforceable.
Prenuptial agreements are exceptionally useful tools to ensure that certain assets are protected should a marriage possibly end in divorce. However, it may seem as though nearly every high-profile divorce has at least one party that challenges the validity of a prenup. Illinois billionaire Ken Griffin recently filed for divorce from his wife, and the couple's prenup has been at the center of contention.
In previous years, some people in Illinois might have viewed prenuptial agreements as something that only wealthy individuals needed to worry about. However, these types of agreements are still highly relevant to those without many assets to their name. In addition to pre-determining the division of property, a prenup can also address a burgeoning financial obligation that many people now shoulder.
Arguing is a perfectly normal and healthy part of an adult romantic relationship, but some fights are also warning signs, according to some experts. Fighting about money can send up a red flag to Illinois residents that their marriage might be in trouble. Some research exists to suggest that money woes can lead a couple to divorce faster than other points of contention in the relationship.
No one wants to enter a marriage anticipating its collapse, but with half of all marriages in the U.S. ending in divorce, many people believe a prenuptial agreement may be helpful in protecting your assets should the marriage end badly. Of course, not everyone shares this opinion: some experts believe prenups should be the province only of high-asset divorce. Illinois residents should understand both sides of this argument before making a decision for themselves.
A woman is in the midst of a nightmare after her husband disappeared. The couple was having marital trouble and she was attempting to challenge the validity of their prenuptial agreement. The husband disappeared soon after, reportedly in an attempt to maintain his fortune in the event of a divorce. Such a story is not the norm for Illinois or any other state, but occasionally divorce dramas can turn into nightmares for the other spouse involved.
Many Illinois couples experience anxiety prior to their wedding. However, a recent study shows that anxiety could be linked to higher divorce rates. Statistics report that two-thirds of couples about to get married experience pre-wedding jitters, but the study also found that those people who have doubts may be more prone to divorce in the future. Such results may show a need for more preparation prior to the wedding in the form of a prenuptial agreement. For those who may have already gone through a divorce, this story may help encourage them to listen to their intuition if they want to marry again in the future.
While statistics show a falling divorce rate, 10 percent of new marriages still end in divorce within the first five years, and almost 25 percent never see a tenth wedding anniversary. Such statistics may encourage Illinois couples to carefully plan before they tie the knot, just in case things don't work out later on. Thinking about divorce before even getting married may not be the most attractive activity, but with the current rate of divorce, for many people such considerations are an important step.
Illinois couples considering marriage may wish to look into the benefits of a prenuptial agreement. If a marriage ends in divorce, a prenuptial agreement is a helpful tool for protecting assets and keeping one's finances secure.