Need a prenup in Chicago? It’s easier than finding a good deep-dish pizza!
Getting a prenuptial agreement (prenup) in Chicago doesn’t have to be as complicated as the Chicago Bears’ quest for another Super Bowl. Here’s how modern options make it simple:
- Virtual Lawyers: Many lawyers now offer consultations and even drafting via Zoom, saving you time and travel.
- Online Platforms: Services like HelloPrenup streamline the process, guiding you through each step.
- Choice is Key: You still can (and should!) consider lawyer review an online prenup for extra protection.
Why get a prenup?
There are many reasons why couples decide to get a prenup. Here are just a few:
- Protect What’s Yours: If you own a home, business, or have significant savings before marriage, a prenup safeguards these assets.
- Limit Alimony: Predetermine if/how much support one partner may receive in case of divorce.
- Avoid Debt Disputes: A prenup can specify that you’re not responsible for your spouse’s pre-existing debt.
- Shield Future Success: Safeguard income or business growth that happens during the marriage.
- Simplify Divorce (If Needed): By deciding key issues like property division upfront, you can save time, money, and stress if you ever do split up.
Takeaway: Prenups offer protection and peace of mind. Yes, prenups are about finances and legal agreements, but they’re also about creating a strong foundation for your future marriage.
How to get a prenup in Chicago
To get a prenup in Chicago, you should follow the below steps:
Step 1: Decide Your Approach
- Online Platforms: Services like ours (HelloPrenup) offer guided prenup creation and can be combined with lawyer review.
- Hire a Lawyer: Finding a lawyer who specializes in prenups is key. Look for referrals, online reviews, and free consultations.
Step 2: Start Your Planning
- Discuss Goals: Talk with your fiancé about what you both want the prenup to cover. For example, how will you approach alimony, property division, joint bank accounts, inheritances, gifts, etc?
- Financial Disclosure: Start prepping the documents and information you will need to satisfy financial disclosure. This includes sharing all of your assets, income, debts, inheritances, etc. Make sure you understand the values of each.
Step 3: Negotiating Differences
- Find Common Ground: Work out any disagreements about terms, either directly with each other (i.e., the HelloPrenup way) or with the lawyers involved.
Step 4: Drafting the Agreement
- Lawyer or Online Platform: Once terms are finalized, your prenup document is created by your chosen method.
- Careful Review: Make sure you understand everything BEFORE signing.
Step 5: Signing and Notarizing
- Both Partners Sign: This makes the prenup official.
- Illinois Tip: While not required, notarizing your prenup adds extra legal protection.
How much does a Chicago prenup lawyer cost?
Getting a prenup is a smart investment, just like getting a chocolate cake shake is never a bad idea, but like anything else good in life, it comes with a price tag. Here’s what you need to know about how much it might cost to hire a lawyer:
- Hourly Rates: Most Chicago family lawyers charge by the hour. Rates can vary widely based on experience and location, but expect somewhere between $250 – $500 per hour, and sometimes even higher for top-tier firms.
- Complexity Matters: The more complex your situation (business ownership, high net worth, etc.), the more time the lawyer will likely spend drafting and negotiating your prenup. This translates to a higher overall cost.
- Negotiation Time: If you and your partner have trouble agreeing on terms, your lawyers may be doing a lot of back-and-forth. This can drive up your bill.
- It’s Not Just One Lawyer: Remember, ideally, BOTH partners should have their own lawyer reviewing the prenup. This ensures fairness and that everyone’s interests are protected.
- What the Data Says: According to a HelloPrenup family law attorney survey, the national average of a prenup for both parties is $8,000.
The Total Cost is Hard to Predict: It could range from a few thousand dollars to upwards of $10,000+ for very complex cases.
The bottom line on Chicago prenups
There’s no magic trick to getting a prenup in Chicago. It’s a matter of choosing how you will get your prenup (online or with a lawyer), discussing the terms of the prenup, negotiating the terms, drafting the prenup, and finalizing it! Simple as that. The trickiest part may be deciding what goes into your prenup… or which deep-dish place to hit after you finalize the agreement. With resources like HelloPrenup and knowledgeable Chicago prenup lawyers, you will be in great hands!
Frequently Asked Questions (FAQs):
Still left with questions? No worries; below are some common questions we get regarding prenups in Chicago.
Q: How long does it take to get a prenup in Chicago?
A: Typically, the process can take several weeks to a few months from the initial consultation to the final signing of the agreement.
It’s important to allow enough time for the drafting, negotiation, and review of the agreement to ensure that it is legally binding and also reasonably fair.
With HelloPrenup’s state-compliant prenup platform, getting a prenup can take two hours or less!
Q: Do both parties need to have a lawyer for a prenup to be legally binding?
A: In Illinois, you do not need a lawyer for a prenup to be valid and enforceable. However, having a lawyer can be helpful in making an argument that the prenup is fair if it is ever challenged in court. HelloPrenup offers IL attorneys for flat-rate discounted rates!
Q: Can a prenuptial agreement include provisions for child custody and support?
A: No! Prenups in Chicago (and anywhere in Illinois) cannot include provisions for child custody and child support. There are some states, like New York, that have narrow exceptions for this, but Illinois does not. The long and the short of it? Do not include child custody or child support in your prenup, as it will be stricken from the prenup and potentially threaten the entire prenup.
Q: Can a prenup be challenged in Illinois court?
A: Yes, prenups can be challenged in Illinois family court. Whether your prenup was drafted online or by an attorney, it can be challenged like any other contract.
Robert “Bobby” Buchanan is the founder and owner of The Law Offices of Robert B. Buchanan. He resides in Clarendon Hills, Illinois, with his wife Kathleen, and two young children, Luke and Nora.
Originally from a small coastal town in Northern California, Bobby spent his twenties earning his B.A. from the University of California, Berkeley, and traveling throughout Europe and South America. Of note, he taught English in Brazil for a year while learning Portuguese.
In 2009, Bobby moved to Chicago to attend Chicago-Kent college of law on scholarship. After graduating in 2012 and earning his license, he began working for a boutique firm that focused on criminal defense and family law issues. His litigation skills developed quickly representing clients at every major court house in the Chicagoland area.
In 2017, The Law Offices of Robert B. Buchanan was founded with the core values of compassion, integrity, and teamwork.
Bobby set out to build a firm that was client-focused and on the cutting edge of legal representation. Utilizing his managerial skills, love of technology, and desire to help people change their lives for the better, Bobby has built a massively successful team of litigators and support personnel.
In his spare time, Bobby spends as much time as possible with his family. He likes to go running along the train tracks while pushing Luke in the stroller, helping Nora with tummy time, and cooking his wife a delicious meal.
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