What is a post-marital agreement?

A post-marital agreement, also known as a postnuptial agreement, is a legally binding contract created and agreed upon by two married people after they have already married. This agreement defines the rights and responsibilities of both parties, including their rights to property, alimony, and other assets. In the State of Illinois, a post-nuptial agreement must be in writing and signed by both parties to be legally valid. Any modification or revocation of the agreement must also be done in writing and signed by both parties. The post-marital agreement can outline issues such as: • How property and assets will be divided in the event of a divorce or death • Responsibilities and rights regarding business/investment decisions • How debts and other financial obligations will be handled • The children’s custody and visitation schedules • Whether the married couple will have a joint or separate will • The rights and obligations of each party In general, post-marital agreements are beneficial for couples who want to spell out their rights and responsibilities in case the marriage ends either in divorce or death. As long as both parties agree to the terms, a post-marital agreement can be a good way to support their relationship.

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What is a post-marital agreement?

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