We Never Signed a Prenup and I Regret It. What Can I Do?

 Posted on December 27, 2023 in Family Law

A prenuptial agreement is not a rare concept. A lot of people are familiar with the term and even if they do not know the specifics, they know what it generally represents: a sort of contract between two people who are about to get married, explaining how their assets will be divided in the hypothetical chance that they end up getting a divorce. It can be compared to a will: people do not like to think about their death but are willing to do so to eliminate any disputes that could otherwise come up between whoever they leave behind and to remove any doubt about what should happen with their assets. Similarly, most couples planning a wedding would rather not think about the possibility of their marriage not working out, but some are willing to experience that discomfort for the sake of their future peace of mind.

However, the preference to not think about a negative future involving divorce is strong enough for some couples that they never sign a prenuptial agreement. With time, though, once they have settled into their marriage, they might regret this and realize that an agreement signed before divorce is even relevant can help their peace of mind. For such couples, a postnuptial agreement can be an excellent option. If you are already married and wondering whether a postnuptial agreement might be a good idea for you and your spouse, a knowledgeable Arlington Heights, IL family law attorney can answer your questions and help with this decision.

What Is Involved in a Postnuptial Agreement?

Much like a prenuptial agreement, a postnuptial agreement is legally binding and details each spouse’s assets and responsibilities. The main difference is unlike a prenup, this is signed after the couple is already married. Every couple is different so there is no uniform template for what exactly would be included in every postnuptial agreement, but some aspects that are commonly included are:

• Definition of any premarital assets, or assets that either spouse had before the marriage, which would likely not be affected during hypothetical asset division if the couple gets a divorce.

• A list of any inheritance that either spouse is granted, which should not be split in a divorce but instead be considered the sole property of whoever inherited it.

• Clear expectations of how each spouse will contribute to the family’s finances and savings, if either will be supporting the other in their career advancement, and who will cover which expenses during the marriage.

• Agreements on matters like spousal support/alimony, which would make it easier to reach a settlement in the possible event of divorce in the future.

Contact an Arlington Heights, IL Family Lawyer

If you are already married and wish you had signed a premarital agreement before your wedding, you do not need to worry. An experienced Arlington Heights, IL postnuptial agreement attorney can help you and your spouse draft an agreement that will offer both of you peace of mind. Call A. Traub & Associates at 847-749-4182 to get started.