Prenuptial Agreements: Not Just For Tiger Woods - The Chicago Family Law Blog

The Chicago Family Law Blog

Prenuptial Agreements: Not Just For Tiger Woods

Deciding how a marriage will be dissolved before even getting married might sound like the ultimate red flag. But regardless of the "forever" concept of marriage and at risk of sounding too cynical, the fact is that U.S. couples have a 50/50 chance that their marriage will end in divorce. 

That means a prenuptial agreement (or "prenup") makes logical, if not romantic, sense for many couples. A USA Today article discusses how more people not named Tiger Woods or Sandra Bullock are drafting such agreements before getting hitched.

Marlene Eskind Moses, president of the American Academy of Matrimonial Lawyers, told reporters that prenups have become extremely popular for non-celebrities:

"It's not just something for the rich and famous any longer. It's for people that have assets and/or income that they want to protect."

In fact, a Harris Interactive poll cited by USA Today found that roughly 30 percent of single adults say they would ask a potential spouse to sign a prenup. Although Harris also found that only 3 percent of Americans with a spouse or fiancĂ©e have a prenup, that's triple the 1 percent reported in 2002.

You probably don't want to do it yourself though. Consulting an Illinois family lawyer probably is the best way to ensure the prenup holds up in state court.

LeAnna Kruckeberg, quoted in the article, said she would like her boyfriend to sign a prenup if they get married in order to protect the assets of her multigenerational family business:

"Why should those businesses that my grandparents and my parents built on good old-fashioned hard work be given to someone who marries into a family?"

Without a prenup, it's unclear how that property might be divided or whether the business would even remain viable.  

Financial guru Suze Orman, also cited in the article, tells her television viewers that a prenup can protect a spouse in case the other "secretly runs up massive credit card debt," which otherwise would hurt both parties after a divorce.

See, you don't have to own a private island or walk the red carpet to get a prenup. Ask an Illinois family law attorney for more details.

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