Divorce is already complex and emotional enough for separating couples. Add property division into the mix and it becomes an even more complicated and overwhelming process. Fortunately for some, the process can be significantly smoother when there is a prenuptial agreement already outlining the division.
A prenup is an exception to the general rule
In Illinois, courts divide marital properties fairly and equitably between spouses. This may or may not mean a 50/50 split. Ultimately, the division will depend on several factors, such as the marriage’s duration and each spouse’s contribution to the assets.
However, some instances allow parties to deviate from this general rule on property division, one of which is the existence of a prenup agreement. With this contract, the division will be based on the previously agreed terms of the parties, regardless of whether the split is exactly half or one spouse receiving more than the other.
It is not an absolute exception
Although prenups can deviate from the general rule on property division, they still have to comply with the law to be enforceable. A prenup should be in writing and signed by both parties, among other enforceability requirements.
Moreover, the court may still review the contents of the prenup to ensure that they are fair and reasonable, given the unique circumstances of the case.
Using a prenup to your advantage
A prenup is a valuable tool in divorce. It can significantly affect how a property division proceeds. Nonetheless, it is equally important to acknowledge that its effectiveness depends on its legal compliance and overall fairness. Carefully reviewing your prenup with proper legal guidance before and during the divorce will help you protect your rights.
