More Young Americans Getting Prenups
Entering into a prenuptial (or pre-marital) agreement before getting married is a wise decision virtually all couples should consider. If a marriage does end in divorce, a prenuptial agreement can simplify the divorce process and ensure that certain assets and property are not divided up between the two spouses. However, there’s reason to believe that entering into a prenuptial agreement might even help spouses guard against needing a divorce in the first place. If two members of a couple can mutually and formally agree to address certain legal matters before the wedding, they may avoid conflict later that could otherwise threaten the stability of a marriage.
These are undeniably positive outcomes. Regardless, for many years, the idea of getting a prenup has been stigmatized. Prevailing wisdom has been that entering into a prenuptial agreement – particularly if one member of the couple demands a prenup before getting married – was a sign that two spouses-to-be didn’t actually believe in the strength of the union and expected to eventually get divorced.
That may finally be changing. Surveys indicate younger couples are increasingly likely to get prenups when compared to older generations. If this trend represents an overall shift in cultural and societal attitudes towards prenuptial agreements in general, it’s likely to continue on this trajectory, with the next generation of couples fully embracing prenups and the benefits they offer.
Marriage & Divorce Attorneys Noticing Prenups Are More Popular Lately
According to the American Academy of Matrimonial Lawyers, more than half of attorneys who participated in a survey on this topic have observed that millennials in particular are entering into prenuptial agreements at fairly high rates over the past few years. Additionally, the survey indicates that between the years of 2013 and 2016, there was a 62% rise in the number of couples getting prenups overall.
Particularly noteworthy is the fact that many of the younger people getting prenups these days don’t have the same financial backgrounds as those who would typically get prenups in the past. Up until recently, it was common for those who entered into prenuptial agreements to be individuals who came from wealthy families. They may have considered it necessary to protect their wealth before getting married.
This is changing. Yes, wealthy people are still getting prenups, but so are young couples in which neither member comes from a rich family. However, these couples are getting married later in life than couples in the past. Thus, while they might not be rich, they have had more time to accumulate assets. Because young couples also tend to be aware of the fact that many marriages end in divorce, they may be more inclined to get prenups than their parents were.
Again, this is a smart decision. Getting a prenup isn’t a sign that you don’t believe your marriage will last. It’s a sign that you and your future spouse are responsible adults who are willing to take these steps as a means of strengthening your union, not weakening it.
Are you thinking about entering into a prenuptial agreement? If so, make sure you enlist the help of a legal professional when doing so. At Baghdaserians Law Group, Inc., a pre and post marital agreement attorney serving Pasadena, Beverly Hills, and Glendale is on hand to ensure your agreement is thorough and sound. Learn more about how our firm can help by contacting us online.