PREMARITAL AGREEMENT

(Illinois Uniform Premarital Agreement Act – 750 ILCS 10/1 et seq.)

TABLE OF CONTENTS

I. Document Header
II. Definitions
III. Operative Provisions
IV. Representations & Warranties
V. Covenants & Restrictions
VI. Default & Remedies
VII. Risk Allocation
VIII. Dispute Resolution
IX. General Provisions
X. Execution Block
Exhibits & Schedules

I. DOCUMENT HEADER

1. Parties

This Premarital Agreement (“Agreement”) is entered into on [EFFECTIVE DATE], by and between:

a. [FULL LEGAL NAME OF PARTY A], residing at [ADDRESS] (“Party A”); and
b. [FULL LEGAL NAME OF PARTY B], residing at [ADDRESS] (“Party B”).

Collectively, Party A and Party B are the “Parties,” and individually a “Party.”

2. Recitals

A. The Parties contemplate legal marriage to one another on or about [PROJECTED WEDDING DATE] (the “Marriage”).
B. The Parties desire to define and fix their respective rights and obligations in the event of dissolution of the Marriage, death of either Party, or other circumstances described herein.
C. The Parties enter into this Agreement pursuant to, and intending it to be an enforceable “premarital agreement” under, the Illinois Uniform Premarital Agreement Act, 750 ILCS 10/1 et seq.
D. Each Party has made full and fair disclosure of that Party’s assets, liabilities, and income, or has voluntarily and expressly waived, in writing, the right to such disclosure, prior to execution of this Agreement.
E. Each Party has had the opportunity to consult independent legal counsel of that Party’s choosing.

3. Consideration

The mutual promises contained herein and the forthcoming Marriage constitute good and sufficient consideration.

4. Governing Law

This Agreement shall be governed by, and construed in accordance with, the domestic relations laws of the State of Illinois without regard to conflict-of-laws principles.

II. DEFINITIONS

For purposes of this Agreement, the following terms shall have the meanings set forth below. Defined terms appear in initial capital letters throughout.

1. “Business Interest” – Any legal or equitable interest, whether direct or indirect, in any proprietorship, partnership, limited liability company, corporation, trust, joint venture, or other business entity.
2. “Excluded Property” – All property listed on Schedule A (Party A) and Schedule B (Party B), together with all Proceeds therefrom.
3. “Marital Court” – Any Illinois circuit court sitting in its domestic-relations division having jurisdiction over the Parties.
4. “Marital Property” – Property treated as such under Section III (Operative Provisions), irrespective of the source, title, or form of ownership.
5. “Proceeds” – All substitutions, reinvestments, growth, appreciation, income, rents, dividends, and other products derived from a particular asset.
6. “Separate Debt” – Any debt, liability, or obligation incurred prior to the Marriage or thereafter that relates solely to Excluded Property or was incurred without the other Party’s consent.
7. “Spousal Maintenance” – Court-ordered support payable by one spouse to the other pursuant to 750 ILCS 5/504 or any successor statute.
8. “Triggering Event” – (i) Entry of a judgment for dissolution of marriage, legal separation, or declaration of invalidity; (ii) death of either Party; or (iii) any other event expressly identified as a Triggering Event herein.

[// GUIDANCE: Add or delete definitions as needed. Cross-check each capitalized term for consistent use.]

III. OPERATIVE PROVISIONS

1. Classification of Property

1.1 Excluded Property. The Excluded Property of each Party shall remain that Party’s sole and separate property, free from any claim by the other, regardless of use, commingling (provided it is reasonably traceable), or title formality.
1.2 Marital Property. All property acquired jointly by the Parties after the Marriage, or otherwise expressly designated as Marital Property in writing and signed by both Parties, shall be deemed Marital Property.
1.3 Transmutation. A Party may transmute Excluded Property into Marital Property only by a contemporaneous writing signed by both Parties expressly referencing this Section 1.3.
1.4 Presumption. In the absence of documentation to the contrary, property shall be presumed Excluded Property if title is in the name of one Party only and no marital funds were used in its acquisition or maintenance.

2. Management & Control

2.1 Each Party shall retain sole management and control over that Party’s Excluded Property and Separate Debt.
2.2 Marital Property shall be managed jointly, and decisions concerning disposition of Marital Property shall require the written consent of both Parties.

3. Debts

3.1 Separate Debt. Each Party shall be solely responsible for all Separate Debt and shall indemnify the other Party against any claim arising therefrom.
3.2 Joint Debt. Any debt incurred jointly in writing by both Parties shall be treated as joint and several obligations.

4. Spousal Maintenance

4.1 Waiver or Limitation. Subject to Section 4.2, each Party hereby [SELECT: waives / limits to $___ per month for ___ months] any right to receive Spousal Maintenance from the other Party.
4.2 Unconscionability Safety Valve. Notwithstanding Section 4.1, if enforcement of the waiver or limitation would render the aggrieved Party eligible for public assistance at the time of enforcement, a court may order support to the extent necessary to avoid such eligibility, as permitted under 750 ILCS 10/7(b).

[// GUIDANCE: Illinois law prohibits agreements that are unconscionable at enforcement; consider periodic review or adjustment mechanism.]

5. Estate Planning & Death Benefits

5.1 Elective Share Waiver. Each Party voluntarily waives any right to an elective share, statutory share, or similar spousal rights in the estate of the other except as provided herein.
5.2 Testamentary Provisions. Nothing herein restricts either Party from benefitting the other under a will, trust, or beneficiary designation.
5.3 Life Insurance. [OPTIONAL: Each Party shall maintain life insurance naming the other as beneficiary in the amount of $___.]

6. Business Interests

Any Business Interest owned by a Party prior to the Marriage, or acquired thereafter solely in exchange for Excluded Property, together with its Proceeds, shall remain that Party’s Excluded Property.

7. Income Tax Matters

7.1 Filing Status. The Parties [SELECT: intend / do not intend] to file joint federal and state income tax returns.
7.2 Allocation. Tax liabilities or refunds arising from joint filings shall be shared [SELECT: equally / proportionate to each Party’s income / as otherwise agreed in writing].

8. Gifts Between Parties

Gifts exchanged during the Marriage shall be presumed the recipient’s Excluded Property unless the Parties sign a writing designating the gift as Marital Property.

9. Triggering Events

Upon a Triggering Event, the classification and disposition of property and debts shall be governed exclusively by this Agreement.

IV. REPRESENTATIONS & WARRANTIES

Each Party represents and warrants to the other, as of the execution date:

a. Capacity. The Party is at least eighteen (18) years of age, of sound mind, and under no impairment or restriction affecting capacity.
b. Voluntariness. The Party is executing this Agreement voluntarily, free from duress, fraud, or undue influence.
c. Independent Counsel. The Party [SELECT: has been represented by / has knowingly declined representation by] independent counsel of the Party’s choice.
d. Full Disclosure. The Party has provided, contemporaneously herewith, a true, complete, and accurate written statement of that Party’s assets, liabilities, and income, attached hereto as Schedule A or Schedule B, as applicable.
e. No Conflict. Execution and performance of this Agreement do not violate any court order or other contractual obligation of the Party.

The foregoing representations and warranties shall survive execution and consummation of the Marriage.

V. COVENANTS & RESTRICTIONS

1. Further Assurances. Each Party shall execute and deliver such additional instruments as may be reasonably necessary to effectuate this Agreement.
2. Confidentiality. The Parties shall keep the terms of this Agreement confidential except (i) as required by law or court order, or (ii) to professional advisors bound by confidentiality.
3. Notice of Material Change. Each Party shall notify the other, in writing, within thirty (30) days of any material change in financial condition exceeding [THRESHOLD AMOUNT].

VI. DEFAULT & REMEDIES

1. Events of Default
   a. Material misrepresentation in any Schedule.
   b. Failure to comply with any material covenant herein after written notice and a thirty (30) day cure period.
2. Remedies
   a. Specific Performance. The non-defaulting Party may seek specific performance in Marital Court.
   b. Equitable Relief. The non-defaulting Party may seek temporary, preliminary, and permanent injunctive relief without posting bond to prevent irreparable harm.
   c. Attorney Fees. The prevailing Party in any action to enforce this Agreement shall recover reasonable attorney fees and costs.

[// GUIDANCE: Illinois courts routinely award fees in enforcement actions; ensure any fee clause aligns with equitable considerations.]

VII. RISK ALLOCATION

1. Mutual Indemnification

Each Party (“Indemnifying Party”) shall indemnify, defend, and hold harmless the other Party (“Indemnified Party”) from any loss, claim, or expense (including reasonable attorney fees) arising out of or related to the Indemnifying Party’s Separate Debt, misrepresentation, or breach of this Agreement.

2. Limitation of Liability

Except for (i) fraud, (ii) willful misconduct, or (iii) obligations expressly designated as unlimited, each Party’s aggregate liability under this Agreement shall not exceed [DOLLAR AMOUNT OR OTHER AGREED CAP].

3. Force Majeure

Neither Party shall be liable for non-performance caused by events beyond reasonable control, including acts of God, war, terrorism, or governmental action, provided that the affected Party gives prompt notice and resumes performance as soon as practicable.

VIII. DISPUTE RESOLUTION

1. Good-Faith Negotiation. The Parties shall first attempt in good faith to resolve any dispute arising under this Agreement through informal discussion.
2. Limited Arbitration. If a dispute (other than issues of child custody, child support, or other non-arbitrable family matters under Illinois law) remains unresolved for thirty (30) days, the Parties shall submit such dispute to binding arbitration administered by [ARBITRATION SERVICE] in [CITY, ILLINOIS], in accordance with the [SERVICE’S] family-law rules.
3. Forum Selection. For matters not subject to arbitration or for enforcement of an arbitral award, the Parties consent to exclusive jurisdiction of the Marital Court in [COUNTY], Illinois.
4. Jury Waiver. The Parties acknowledge that dissolution and related family matters are heard without a jury in Illinois; accordingly, no jury waiver is required.
5. Injunctive Relief. A Party may seek temporary or preliminary injunctive relief or specific performance in Marital Court notwithstanding the arbitration clause.

IX. GENERAL PROVISIONS

1. Amendment & Waiver. This Agreement may be amended or waived only by a written instrument signed by both Parties and acknowledged before a notary public.
2. Assignment. Neither Party may assign or delegate rights or obligations under this Agreement without the prior written consent of the other Party.
3. Successors & Assigns. This Agreement shall be binding upon and inure to the benefit of the Parties and their respective heirs, executors, administrators, and permitted assigns.
4. Severability. If any provision is held unenforceable, the remaining provisions shall remain in full force, and the unenforceable provision shall be reformed to the minimum extent necessary to comply with applicable law.
5. Integration. This Agreement constitutes the entire understanding between the Parties regarding its subject matter and supersedes all prior agreements, oral or written.
6. Counterparts; Electronic Signatures. This Agreement may be executed in counterparts, each of which is deemed an original, and signatures transmitted electronically (e.g., PDF, DocuSign) shall be deemed valid and binding.

X. EXECUTION BLOCK

IN WITNESS WHEREOF, the Parties have executed this Premarital Agreement as of the date first written above.

Notary Acknowledgment

State of Illinois )
County of [_] ) ss.

On this ___ day of ____ 20__, before me, the undersigned Notary Public, personally appeared [PARTY A], known to me (or proved to me on the basis of satisfactory evidence) to be the individual described herein and who executed the foregoing instrument, and acknowledged that he/she executed the same for the purposes therein contained.

Notary Public
My Commission Expires: ____

Repeat acknowledgment block for Party B.

[// GUIDANCE: Illinois does not strictly require notarization for enforceability, but notarization strongly evidences voluntariness and authenticity.]

EXHIBITS & SCHEDULES

• Schedule A – Statement of Assets, Liabilities, and Income of Party A
• Schedule B – Statement of Assets, Liabilities, and Income of Party B
• Schedule C – Joint Debt (if any)
• Schedule D – Life Insurance Policies (if any)

[// GUIDANCE: Provide detailed schedules with supporting documentation (e.g., bank statements, appraisals) to satisfy disclosure obligations and enhance enforceability.]

IMPORTANT: This template reflects Illinois law in force as of [DATE] and assumes incorporation of the Illinois Uniform Premarital Agreement Act. Counsel should verify local court rules, update statutory citations, and tailor provisions to the client’s circumstances before final execution.