Prenuptial agreements have always had some sort of societal taboo on them, but in recent years, society’s opinion of prenuptial agreements, or prenups for short, has evolved and more people have accepted their role. A prenuptial agreement is a document that both people sign before they get married that spells out the terms of their divorce if they were to ever get one. As a legal agreement, your prenuptial agreement is subject to certain standards and rules in order to be enforceable. If the agreement violates any of those standards or rules, those sections may be invalidated, if not the entire agreement. If you are thinking about getting a prenuptial agreement, it is important to make sure your agreement follows the rules, so it will be enforceable if you ever need to use it.

Not Having Full Financial Disclosure From Both Spouses

Before you sign a prenuptial agreement, both you and your spouse are supposed to disclose all of your financial information. This includes any property that you own, inheritances you expect to receive, and any liabilities you may have, such as student loans or credit card debt. Without full disclosure, the argument could be made that you did not fully understand what you were agreeing to when you signed the agreement.

Making the Agreement Extremely One-Sided

Another issue that stems from the previous issue is having an “unconscionable” agreement. While there is no legal definition of “unconscionable” in Illinois, it typically means extremely unfair or heavily favoring one spouse over the other.

Shopping for a new home is an exciting process, especially once you find a home that fits everything on your checklist. Purchasing a home is a big accomplishment for many people, but the process that you must go through can be confusing and overwhelming for many people. Before you can move into your new home, there are a few things that you need to take care of on the legal side. No home sale can be completed without a contract, also referred to as the purchase agreement, in addition to an array of other forms and documents. Your purchase agreement is one of the most important documents involved in the home-buying process. Once you and all applicable parties sign the agreement, it is considered to be legally binding, which is why you should know what is included in the agreement you are signing.

Components of a Home Purchase Agreement

Once you have found your dream home, you will have to submit your offer to the buyer in written format. Certain information is always included in the purchase agreement, such as the contact information for both the buyer and the seller, a description of the property, including the property’s address, the purchase price, the condition of the property, and any items that may be included in the sale, like the appliances. In most cases, there will be other conditions that need to be met before the agreement can be valid. These are called contingencies, which spell out the rights and obligations of both the seller and buyer. Some of the most common contingencies include:

• Being able to obtain certain financing terms
• Any requested seller assist, which usually involves closing costs
• Results of the home inspection
• Your desired closing date
• Your date of possession
• Selling your existing home

If certain contingencies are not met, your sale will not be completed. You can have your attorney write the terms of the contingencies into the contract, such as your right to walk away from the sale if the contingencies are not met.

Even though we often complain about it and dread the aesthetic and physical effects, aging is simply a part of life. Though we should not worry too much about our hair turning gray or falling out, it is not a bad idea to make arrangements that would help in the event you are no longer able to make decisions for yourself. There are various options available to you to do this, but two of the most commonly used options are powers of attorney and guardianships. Both options are similar to one another, but they also have various differences. Understanding these differences is important in making the best decision for you and your family.

Powers of Attorney

A power of attorney (POA) is a legal document that gives another person the authority to make certain decisions in the event you are unable to do so yourself. The person appointed to make those decisions called the “agent,” must do so according to the terms of the document. When the document is created, the person must be able to legally give their consent to relinquish decision-making power if they become incapacitated.

POA’s are customizable documents in the sense that they allow the person for whom they are for to include or remove any powers they wish their agent to have. A POA can include provisions for both personal and financial decisions and can include terms on what the agent should and should not do.

For many people, starting a business is the ultimate dream and though it may seem unattainable to some, it has been a reality for millions of Americans. According to the Small Business Administration (SBA), there were 31.7 million small businesses operating in the United States in 2020. Small businesses play an essential role in the U.S. economy, as they are responsible for employing nearly half, or around 47.1 percent of the American workforce. Starting your own business may seem daunting, especially when it comes to the legal side of things, but a business formation attorney can help guide you through the process. Here are a few things you should keep in mind when starting your business:

Make Sure You Have a Clear and Understandable Business Plan

The first step to creating any successful business is having a business plan written out. A business plan is exactly what it sounds like -- a plan for your business. A thorough business plan will contain information about the industry in which your business will operate and information about the scope of your business itself, a sales and marketing plan, how the business will be owned and managed, the way the business will operate, and basic information about the business finances.

Research the Market You Are Interested In

Before you start your business, you should do a lot of research. Writing your business plan will take a lot of research, but you should be intimately familiar with your industry if you are not familiar with it already. You should have a basic idea of what your competitors are doing, what they are selling, and how they are selling it. This can also help you develop and implement goals for your own business.

For many spouses, contemplating the multitude of issues that will need to be addressed during the divorce process can be very stressful. As you consider how you and your spouse will divide your marital property, how you will share custody of your children, and other concerns related to the dissolution of your marriage, you may be preparing for a difficult and contentious battle. However, you may be able to make matters easier by determining how you can avoid conflict and cooperate with your spouse to make decisions about your divorce. Instead of resolving legal issues through a costly and time-consuming divorce trial, you can use alternative dispute resolution. Mediation is one of the most popular and beneficial methods of resolving disputes. Whether you choose this option on your own or are ordered by the court to proceed to mediation, you can realize a variety of benefits.

Reasons to Choose Divorce Mediation

During mediation, you and your spouse will work together to create a divorce settlement that will detail all of the decisions made about the outstanding issues in your case. A neutral mediator will guide you through these discussions, make sure you understand how the law applies to you, and offer suggestions on how you can resolve your differences.

There are a number of reasons why mediation can be beneficial, including: