Prenuptial agreement illinois template1/22/2024 ![]() ![]() ![]() ![]() By creating a Prenuptial Agreement, the terms the Parties agree to are used instead of the default guidance of state law. If a couple does not have a Prenuptial Agreement in place when they divorce, state laws and courts are left to decide how to divide property, dictate custody, and allocate debt. The Parties would like to outline their financial responsibilities for housing and living expenses prior to moving in together after getting married.One or both of the Parties has a significant amount of debt.One or both of the Parties owns property that they would like to keep separate.One or both of the Parties has children from a previous relationship.However, a Prenuptial Agreement can be used in many different situations, such as the following: Prenuptial Agreements are often associated with individuals who have a large amount of assets. This Agreement outlines the financial obligations of both Parties and includes a plan of how to divide assets and debt obligations if the marriage ever comes to an end. A Prenuptial Agreement, also commonly known as a Prenup, is a contract entered into by two individuals who are about to get married. ![]()
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