The use of prenuptial agreements has been on the rise. Why are people more interested in prenuptial agreements now than they have been in the past?
While you may be ready to say "I do," and spend the rest of your life in wedded bliss, you may find that your soon-to-be spouse wants to talk about signing a prenuptial agreement before he or she strolls down the aisle. Here are some questions you should know the answers to before your marriage license formally binds you two together.
It can be difficult to think of your marriage as a business relationship, but when you stop to think about the financial interests in your marriage, it makes it easier. As a business relationship, you need to protect your assets and investments. One way to do so when you will soon be walking down the aisle is to create a prenuptial agreement.
Millennials are getting more life experience before settling down to get married. The Centers for Disease Control and Prevention and the National Center for Family and Marriage Research have some interesting statistics for married couples, including the following:
Prenups are on the rise among those ages 18 to 35. According to the American Academy of Matrimonial Lawyers, more than half of all United States family law attorneys have seen an increase in prenups over the last three years than ever before. And, when it comes to millennials, attorneys polled report having seen an increase in those clients requesting prenups from its previous 5-percent to the 25-percent that it is today.
One of the main reasons couples don't discuss prenuptial agreements is simply that both people feel nervous to bring it up. They worry that the other person will be angry and might even leave them if they suggest it. However, there are things you can do to gently broach the subject if you think a prenup is important.
So you already agreed to get married, and you've been planning it for months. The big day is quickly drawing near, but you're suddenly getting a bit worried. You still want to get married, but seeing that date so close on the calendar has you thinking about the legal side of the wedding, about signing that contract and about what might happen if you end up getting divorced.
Over 800 lawyers say they have seen an increase in the number of millennials wanting prenuptial agreements before they marry. That number comes from a survey of 1,600 lawyers by the American Academy of Matrimonial Lawyers.
Most people make the decision to keep their prenuptial or postnuptial agreements private. Usually, this is for good reason, as a prenuptial agreement has a lot of information in it about a couple's assets, liabilities and more.
Prenuptial agreements have become more and more popular today and not just with the wealthy. Those who are entering in to a second (or third) marriage are using this legal document to plan not only for their future, but for children from previous relationships and other heirs.