Tag: postnuptial agreement

Difference between Marital vs. Non-marital property

Difference between Marital vs. Non-marital property

What’s mine is yours. What’s yours is mine.

In some marriages people tend to share everything with their spouse. However, when it comes to divorce not everything is split 50/50. There is a difference between marital property and non-marital property.

In Illinois, the courts try to keep this area black and white, however, as with every law there are gray areas. Generally speaking marital property is everything obtained by the couple after the moment they say “I do.”

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The Rise of the Postnup

The Rise of the Postnup

With almost all 50 states now allowing postnups, they are increasingly being used. A postnup is similar to a prenup, but it is for already-married couples. Postnuptial agreements can cover everything a prenup can. For example, a postnup can allow couples to agree how to divide financial assets in divorce. According to a survey of divorce lawyers, 51% saw an increase in postnups from 2009 to 2012.

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