Entering a premarital agreement before a wedding can be wise for many reasons. Although few couples like to imagine their marriages will end in divorce, it’s a possibility one must consider when committing to a life partner. When two spouses choose to divorce one another, if they’ve entered into a premarital agreement before getting married, the divorce process is likely to be less stressful (and costly) than it might otherwise be.
That said, although premarital agreements offer many theoretical advantages, for a long time in our country, a stigma has surrounded them. Many have been reluctant to enter into premarital agreements for several reasons. Often, couples have chosen not to enter into these agreements because the narrative has been that “getting a prenup” indicates a lack of faith in the marriage.
These attitudes may be changing. According to research, it’s becoming increasingly common for young couples to enter into premarital agreements. There is reason to believe this trend will continue as getting a prenup becomes more acceptable throughout society.
Surveys Show Younger Couples Entering Into Premarital Agreements at Higher Rates Than in the Past
In 2016, a survey by the American Academy of Matrimonial Lawyers indicated that 51% of respondents had noticed an increase in Millennials asking for prenuptial agreements. Additionally, approximately 62% of attorneys who participated in the study saw a rise in clients asking for premarital agreements regardless of age.
It’s not entirely clear why trends have shifted in this manner. That said, experts have some good guesses.
For example, Millennials tend to get married later in life than members of previous generations did. By the time they marry, many younger people have accumulated assets. Thus, they have more reason to enter into premarital agreements than spouses in the past may have.
It’s also worth noting that women have had more opportunities to enter the workforce in recent decades. As a result, they’ve contributed more to a household’s income than they may have in the past when “traditional” couples assumed a husband’s job was to earn money for the family, and a wife’s job was to tend to the household. In this arrangement, a premarital agreement benefitted the spouse who earned the family’s income while disadvantaging the spouse who earned less or no money.
Now, it’s more common for both members of a couple to earn an income. This means premarital agreements benefit both parties. As a result, soon-to-be spouses who get prenups tend to do so as a team. This wasn’t always the case in the past.
Keep that in mind if you expect to get married shortly. Again, while your marriage will hopefully be long and successful, it’s wise to at least account for the possibility that it may one day end in divorce for reasons you can’t foresee.
If it does, you’ll be happy you got a prenup. Learn more about this option by getting in touch with a qualified attorney. At The Law Offices of Ronald K. Stitch, you’ll find a Westlake Village premarital agreement lawyer prepared to help you and your future spouse enter an agreement that protects you both. Contact our offices online or call us at 818-707-0202 for more information.
