Legal Question in Family Law in Illinois

I am looking to move in with my lover. He is 57, four children (older between 21 to 26 they come and go to the their home, he is a widower, financially secure. I am 55, one child 28 (leaves away), I have me condo. We like to move in, til we sell the homes and buy a new one. What should I expect as a financial security, in case something happens to him. He is very secure financially, I am not as much. I have a good job, but I probably earn 1/5 of what his income and life style is commesurate to that. I am not sure as to what to ask to secure me in case something happened to him. I own my condo, with six years mortgage payment left. If I sold my home and I am not with him, I will have to buy something on my own and I will be able to afford much (at the market values). I purchased my place 17 years ago. What should and is reasonable that I need to ask for my security? Pls. advise.

Ninoska


Asked on 2/13/11, 5:33 am

1 Answer from Attorneys
Stephen Messutta

Ninoska: Without going into the details, the two of you, if you plan on marrying, should consider proper estate plans, and perhaps a prenuptial agreement, so that your estates do not get mixed up and you can preserve your own estate for your own child, just as he can preserve his estate for his own children, but during your lifetime together you share certain expenses. This can include special bank accounts, but keeping other assets separate. One example is that when you sell your condo the proceeds go to an account that is only in your name; he can do the same. It really is up to you two but you should consult an attorney who can help you sort through these things and help draw up the kind of documents you will need to avoid problems down the line.

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Answered on 2/13/11, 12:26 pm


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