An Illinois prenuptial agreement is a legal document that outlines the financial rights and responsibilities of two individuals planning to enter into a marriage. It defines the division of finances and assets in the unfortunate event of a divorce, ensuring that both parties know each other’s financial standing and debt obligations.
It’s important to note that a prenuptial agreement does not become effective upon signing but upon the legal and official marriage of the couple.
Legal Considerations
Laws:
- 750 ILCS 10/1 – Illinois Uniform Premarital Agreement Act
- 750 ILCS 10/2 – Definitions
- 750 ILCS 10/3 – Formalities
- 750 ILCS 10/4 – Content
- 750 ILCS 10/5 – Effect of Marriage
- 750 ILCS 10/6 – Amendment, revocation
- 750 ILCS 10/7 – Enforcement
- 750 ILCS 10/8 – Enforcement (void marriage)
- 750 ILCS 10/9 – Limitation of actions
- 750 ILCS 10/10 – Application and construction
- 750 ILCS 10/11 – Time of taking effect
Signing Requirements: The agreement requires both parties’ signatures; notarization is optional. (750 ILCS 10/3)
Dividing Property: Equitable division. (750 ILCS 5/501)
Enforceability Requirements
Spousal Support
According to 750 ILCS 10/7 (b), a court can change or nullify a prenup’s spousal support terms if they lead to undue hardship for one party due to unforeseen circumstances at the time of signing.
Invalid Prenup Provisions
A prenup in Illinois may become invalid if:
- One party was coerced into signing it.
- It’s based on incomplete or misleading information about assets or debts.
- It includes provisions that are illegal or against public policy.
If a marriage is declared void, any agreement intended to be a prenup will only be enforced to prevent unfair outcomes.
