Before you get hitched, when should you consider signing a premarital agreement (a.k.a prenup) in Illinois? While there’s no specific timeframe mandated by law, Illinois prenup attorney Mathew Kerbis recommends finalizing the agreement at least one month before your wedding day to avoid any complications. There are additional criteria that must be met to ensure a prenup is enforceable in Illinois. These steps are essential to protect your assets in the event of a divorce. Let’s take a look at the prenup signing process in Illinois.
How do I make an enforceable prenup in Illinois?
To be enforceable in Illinois, a prenup must comply with the Illinois Uniform Premarital Agreement Act. Under the Act, an Illinois prenup must be drafted according to specific guidelines, which include:
- The prenup must be documented in writing.
- The prenup must be signed by both future spouses.
- Each party must voluntarily sign the prenup (no duress or coercion).
- The terms of the agreement must be lawful (no criminal, illegal, or against public policy terms).
- Both parties must disclose their complete financial information, including a detailed list of assets, income, and debts.
- The agreement must not be unconscionable.
When should I sign a prenup in Illinois?
Although Illinois law does not specify a mandatory timeline for when you should sign a premarital agreement, it is typically recommended that you finalize it at least four weeks before your big day.
“I often explain to my clients that law is more art than science. When it comes to answering the question of what is the right timing to sign a premarital agreement (which is what Illinois calls prenups), I suggest not too early and not too close to the actual marriage ceremony. Technically, the fiancés can sign it right before getting married. However, under Illinois law, either spouse might be able to argue that signing it so close to getting married meant they did so under duress, which could mean the signing was unconscionable or not voluntary. A month before the ceremony is a good rule of thumb, and my clients and I often try to not make it within two weeks of the ceremony. Context really matters here. Was there a lot of back and forth for months leading up to the signing within a few weeks or days of the ceremony? Were the final weeks of negotiations focused on less substantive matters? Then, it’s easier to argue (if needed) that neither party was under duress when signing. On the other side, it’s never too early to start having conversations with your spouse-to-be about the things that go into a premarital agreement. Signing it several months out leaves room to overthink it, so don’t do that to yourself or your partner. Like with everything else in life, it’s about finding that right balance.” – Mathew Kerbis, Esq., Founder, Subscription Attorney LLC
Am I really required to disclose all of my financial information?
Absolutely! Fully disclosing everything is crucial—any attempt to hide, omit, or gloss over details could render your agreement unenforceable in the land of Lincoln.
In Illinois, this requirement, referred to as “financial disclosure,” is mandatory for a valid and enforceable prenup. In addition to negotiating the terms of the prenup, both parties must fully disclose their financial information to each other. Failure to disclose all financial details could result in the prenup being invalidated.
A thorough financial disclosure includes providing accurate valuations of assets, income, and debts. Even assets intended for joint ownership must be disclosed along with their respective values to your future spouse.
Assets include but are not limited to real estate (like homes or rental properties), vehicles, investments, bank accounts, artwork, and various other items. This list is not exhaustive; anything of value must be included in your financial disclosure.
Do you have to notarize an Illinois prenup?
While not required by Illinois law, many attorneys suggest notarizing your prenup as an additional safeguard. HelloPrenup also recommends you notarize your agreement as an extra layer of protection.
Notarization involves signing the prenup in front of a Notary Public. The Notary Public verifies your identity, confirms your mental capacity, ensures your comprehension of the document, witnesses your signature, and affixes their Notary seal and commission number to the document. Through the HelloPrenup platform, you can virtually notarize your Illinois prenup all from the convenience of your own home!
Do I need to be represented by an attorney to make an Illinois prenup enforceable?
No! In Illinois, couples are not required to hire attorneys to establish a legally binding prenup. However, if your partner chooses to contest the prenup later on, a court may consider whether each party had legal representation as a factor in determining its enforceability. HelloPrenup offers the option to access Illinois attorneys at discounted flat rates as an additional service. Give yourself peace of mind and have an attorney review your prenup today.
The takeaway
In Illinois, while there is no specific deadline for finalizing a prenup, most attorneys recommend completing it at least one month before you tie the knot. Rushing this process could only serve to jeopardize the enforceability of your prenup. Taking the time now to complete your prenup ensures your future protection. Take control of your future today and protect your assets with a prenup today!
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