Prenuptial Agreements on the Rise
Before saying "I DO" an increasing number of women are also saying I do to a prenuptial agreement, according to a recent study conducted by the American Academy of Martimonial Lawyers. Of the 1600 divorce attorneys polled, 73% reported a rise in prenuptial agreements, and 36% saw a rise in pensions, retirement funds, and stock options.
The study quotes AAML President Marlene Eskind Moses:
"Prenuptial agreements are becoming more generally accepted as an effective way to protect assets. Interestingly, these requests are no longer just limited to a specific gender or age group. In addition, as our society sees more people marry or remarry in their later years, there is an increasing emphasis on protecting pensions and retirement benefits if the marriage does not work out."
Moses adds that the increase in protecting pensions and retirement funds is a logical inclusion because they typically represent a couple's biggest assets.
Prenuptial agreements can take on a variety of forms depending on the couple and the assets each party has entering the marriage. Whether protecting current assets or simply planning for potential incomes, a prenuptial agreement is really a product of the couple. In addition to prenuptial agreements on the rise, there is also an increase in women seeking some for of prenup.
The sad truth of the current state of marriage is that almost half end in divorce. Recognizing the potential for a not so happily ever after in a marriage can make the process easier for all parties involved. Moses adds a final thought on prenuptial agreements, "It is an important financial discussion to have because you fall in love with the heart but then your pocketbook is affected if it falls apart, then you have heartache at two levels."
Related Resources:
- More Women Say "I Do" to Prenups (ABC News)
- Premarital (Prenuptial) Agreements (FindLaw)
- Marriage and Money: Prenuptial Agreements and Beyond (FindLaw's Law and Daily Life)
- Marriage (provided by Curtis R. Cowan, P.A.)
- Prenups & Postnups (provided by Law Offices of Douglas J. Wells)
