Marriage changes the financial lives of people in Illinois, and the prenuptial agreement has become a way for partners to disclose assets and debts and establish the terms for a divorce should one happen. Young people entering their first marriages have been choosing to create these premarital contracts in increasing numbers. A majority of attorneys surveyed by the American Academy of Matrimonial Lawyers reported that more people between the ages of 18 and 34 have wanted prenuptial agreements than ever before.
Taxes are something people may not like to think about. This can particularly be the case at a stressful time like a divorce. The reality though is that taxes can have significant impacts on important divorce issues. One such issue is property division.