Parenting can be challenging, particularly for Illinois single mothers who are relying upon child support to assist in caring for their children. Many people seem to think that some child support awards are too high, however.
Illinois couples who are excited about their upcoming marriage might not want to discuss a future divorce, but good reasons for establishing protections with a prenuptial agreement exist. Common motivations for creating contract terms if the relationship dissolves include different levels of wealth and debt between the partners, property ownership and citizenship. When people decide to negotiate a prenuptial agreement, they should make decisions about assets, spousal support and estate distributions in the event of death.
When Illinois couples are married and have children, they are often joint account holders. This also applies to their children's college savings. While this is practical during the marriage, this can cause issues when the relationship comes to an end.
Last time, we began speaking about cohabitation agreements in Illinois, and how these documents can help unmarried couples protect their assets in the event of separation and death. As we noted, crafting an enforceable cohabitation agreement in Illinois can be tricky and it is important to work with an experienced attorney to ensure it is valid and enforceable.