Illinois Law about Assets and Property after Marriage

[moona]

I am Illinois resident about to get married in couple of months. I have assets and property that I had purchased and want to keep it separate after marriage as its a joint venture where a friend of mine is 50% partner. My question is can I keep the property and assets separate after marriage ? Do we need a prenupital agreement to make this clear and without any abiguity in case of unforeseen circumstances? What is Illinios family in these circumstances? Please advise.

 

[Taxing Matters]

In most non community property states (and Illinois is not a community property state) your share of the the appreciation in the value of that joint venture during the period of the marriage is going to be considered marital property. A prenuptial agreement might solve that problem for you. I'd strongly recommend you see a family law attorney in your state about this issue if it is really important to you.