Marriage is a beautiful and joyful event in one’s life. While many couples live happily ever after, some couples might face insurmountable problems in their married life. One way to minimize potential conflict in any marriage is to come to an agreement early on in the relationship. A prenuptial agreement, or prenup, is a perfect way for couples to get on the same page.
A prenup is an agreement between the parties entering into a marriage that specifies the rights and obligations of each party during the marriage and in the event of a divorce. However, prenups can be complicated and can be challenged in court, which is why it is important to understand the factors that determine whether a prenup is valid or not.
Factors That Determine the Validity of a Prenup
Illinois law recognizes prenuptial agreements as valid and enforceable contracts. However, a prenup can be challenged and declared invalid in certain circumstances. Below are some of the factors that the court will consider when determining whether a prenup is valid or not:
- Voluntariness: One of the most important factors the court will consider is whether the agreement was voluntary. If one party was coerced, threatened, or forced to sign the agreement, the court may find that the agreement is invalid.
- Full Disclosure: Another important factor the court will consider is whether there was full disclosure of assets and debts. Both parties must disclose all of their assets, debts, and financial information before entering into a prenup. If one party fails to disclose all of their assets, the court may find the agreement invalid.
- Fairness: A prenup must be fair to both parties. If the agreement is one-sided and benefits one party over the other, the court may find the agreement invalid.
- Procedural Fairness: The court will also consider whether the parties had the opportunity to consult with their own attorneys before signing the agreement. If one party did not have the opportunity to consult with an attorney, the court may find the agreement invalid.
- Legal Formalities: Finally, the court will consider whether the agreement was executed properly. The agreement must be in writing, signed by both parties, and notarized to be considered valid.
How Glasgow & Olsson Can Assist
Prenuptial agreements can be complicated to finalize and can be challenged later on in court. It is important to understand the factors that determine whether a prenup is valid or not and to seek the assistance of an experienced attorney if you believe that your prenup is invalid. The attorneys at Glasgow & Olsson have extensive experience in prenuptial agreements and can help you navigate the legal process.
Below are some of the ways that Glasgow & Olsson can assist you:
- Review: The attorneys at Glasgow & Olsson can review your prenup and determine whether there are any grounds to challenge the agreement.
- Negotiation: If there are issues with the prenup, the attorneys at Glasgow & Olsson can negotiate with the other party to reach a new agreement that is fair to both parties.
- Litigation: If negotiation fails, the attorneys at Glasgow & Olsson can represent you in court to challenge the validity of the prenup.
When you need an attorney, experience matters. Contact us now for a confidential and comprehensive consultation.