Q: In the event of a divorce, can I protect myself against a claim for maintenance (alimony) with a premarital agreement?
A: Yes. You can either limit, or eliminate the claim for maintenance by a premarital agreement. The likelihood, however, is that if you are divorced within ten years and your spouse is in good health, there would not be an award of maintenance.
Q: What is the short of it?
A: 1. If you are careful to keep assets, such as real estate, stocks, bonds, etc. in your own name you do not need a premarital agreement.
2. If you have non-marital income, such as investments before the marriage, or gifts or inheritances you receive during the second marriage, you should keep them strictly in your own name and not put them into a joint account.
3. If you are satisfied with the way the law will distribute your assets upon your death, with or without a will, you do not need a premarital agreement.
4. If you feel that after about ten years of marriage your spouse may be entitled to maintenance you do not need a premarital agreement -- unless you wish to control the amount and duration of maintenance.
For more information on maintenance (alimony) and division of property, visit Gitlin, Busche & Stetler, Woodstock, Illinois lawyers website.
H. Joseph Gitlin covers the practice of family law in Illinois. Mr. Gitlin is the author of Gitlin on Divorce Reports, which summarize current Illinois opinions. Click here for Gitlin on Divorce Reports information or contact the office at (815) 338-0021. Mr. Gitlin's book, Gitlin on Divorce, A Guide to Illinois Matrimonial Law is a necessary tool for lawyers and legal assistants involved in family law and for judges hearing matrimonial cases.
