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630-575-8585

2015 Spring Road, Oak Brook, IL 60523

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Western Springs prenuptial agreement attorney

Prenuptial agreements, or “prenups” for short, have long been the subject of misinformation and misunderstanding. Outrageous celebrity weddings, television shows, and movies have shown prenuptial agreements in an unfairly negative light. However, signing a prenuptial agreement before getting married can be a responsible and beneficial decision for many couples. Read on to learn how a prenuptial agreement or premarital agreement can benefit you and your partner in Illinois.  

A Prenuptial Agreement Protects Your Financial Interests

The main benefit of a prenuptial agreement is that it protects the financial interests of both parties should the marriage end in divorce. In Illinois, a divorcing couple’s marital estate is divided according to equitable distribution laws. Through equitable distribution, property and debts are divided fairly, but not necessarily evenly. If you and your soon-to-be spouse sign a prenuptial agreement, you have the option to make your own property division decisions in advance and override these state laws during a divorce.

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Western Springs child support attorney

If your marriage is coming to an end because your spouse cheated on you, you may wonder how this could affect the divorce process. Illinois is a “pure no-fault” state, which means that there are no fault-based grounds for legally terminating your matrimonial union. If you and your spouse are getting divorced in Illinois, you will simply list “irreconcilable differences” as to the reason that you are seeking a divorce. However, marital infidelity can still affect your divorce proceedings in several important ways.

Assets Wasted During an Affair Can Constitute Dissipation

Illinois law prohibits courts from considering cheating or other types of marital misconduct when making property division, child support, or spousal maintenance decisions. However, there are several exceptions to this rule. According to the Illinois Supreme Court, “dissipation” occurs when a spouse uses marital funds or property “for a purpose unrelated to the marriage” while the marriage is “undergoing an irretrievable breakdown." Dissipated assets can include money spent on gifts or vacations for a secret lover, property which was sold in order to fund the affair, or other assets which were used to benefit the paramour. If you and your legal counsel can prove that your spouse dissipated assets, you may receive a proportionately larger share of the marital property in the divorce.

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Botti Marinaccio, LTD.

630-575-8585

2015 Spring Road, Oak Brook, IL 60523

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