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Articles Tagged with premarital agreements

How Do I Create a Prenuptial Contract?

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Prenuptial contracts can provide marrying couples with substantial advantages and financial security. Unfortunately, these contracts have negative connotations for many people, most of whom believe that the suggestion of a prenuptial contract is an indication of a lack of faith in the success of the relationship. The reality is that prenuptial contracts can provide financial security to marrying spouses, especially those who have financial obligations to children from previous marriages, those who control substantial assets, and those who want to protect themselves from their spouse’s debts.

Creating a prenuptial contract is relatively simple; the difficulty lies in the scope of the contract and the complexity of the issues included in the contract. There are many tools and software applications available that can help you draft your own prenuptial contract, but ultimately it is always best to work with an experienced family law attorney to ensure your contract is fair and enforceable.

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Misconceptions of Signing a Prenup

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Getting married is one of the most exciting life events. You’ve decided to settle down with a certain someone, and you’ve committed the rest of your future to that person. Marriage is not only the union of the two individual people but also a union of every different element of your lives, including property, finances, and general way of life. Before heading down the aisle, you may want to consider having a prenuptial agreement on file. While it may not be the most romantic aspect of your wedding planning, it will set up both parties with a secure understanding of what would happen if things ultimately don’t work out. When it comes to having a prenup, many common misconceptions influence making this important decision.

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Can Premarital Agreements Be Broken?

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The purpose of a premarital agreement is fairly straightforward—to provide guidance for how a separation should be conducted if a marriage ends in divorce. Due to its nature, most couples don’t think much of such agreements unless they are actively considering a legal separation. At that moment, it can be incredibly relieving to have such details outlined in advance, especially if the situation between you and your spouse has become contentious. However, depending on the terms of the agreement, there may be questions about whether everything outlined is still relevant or enforceable. To fully understand the limitations of a premarital agreement and under what circumstances the contents may be voided, it’s important to familiarize yourself with a little background regarding what these agreements are and why they exist.

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On October 7, 2015 news broke that the richest man in Illinois, hedge fund manager Ken Griffin, came to a settlement in his divorce from Anne Dias Griffin. The two had entered into a prenuptial agreement (also referred to as a “prenup” or “premarital agreement”) prior to their marriage in 2003. They have three young children together.

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