The American Association of Matrimonial Lawyers (AAML) was asked about prenuptial agreements, or prenups, in 2013, and almost two-thirds (63 percent) of those surveyed stated that they had seen a significant rise in their use in recent years, especially by women.
Forty years ago, 8 in 10 people were married by the age of 30. Last year, that same number applied to people getting married at the age of 45.
In today’s world, millennials often postpone marriage until they are financially secure. Moreover, during their marriage planning process, they are more likely to protect their assets by establishing a prenuptial agreement in the event of a divorce.
Getting married is one of the most exciting milestones in a person’s life. Yet there are many costs that should be evaluated.
Finances, one of the greatest factors to consider, must be analyzed—especially when one or both parties is getting married for a second time and has children from a previous relationship.
Marriage is a huge commitment that involves several legal matters and, if not taken seriously, could result in a potential divorce. Therefore, couples often turn to prenuptial agreements prior to marriage in order to keep their assets accounted for and to potentially save the marriage. For many couples, this is an excellent opportunity to determine marital assets.
Getting married is one of the most exciting times in someone’s life. Soon-to-be married couples eagerly anticipate spending the rest of their lives together and creating lasting memories. Yet before marriage, many couples decide that it is in their best interest to draft agreements on certain assets, and they often have questions that they are afraid to ask.
The Millennial generation certainly has its own ideas about marriage, and, in many ways, they are not like those of their parents. An interesting shift is taking place in the way younger people perceive marriage and its importance. Throughout the last 60 years, several trends have arisen. People, in general, are waiting longer to get married, divorce is more common, and couples are having fewer children. During the 1950s, 75 percent of women in their early 20s were married whereas only 50 percent are now.
When you hear the term “prenuptial agreement,” there is a good chance you think about a high-net worth couple looking to protect financial interests and holdings. Even if the couple has not accumulated a significant amount of wealth, a prenuptial agreement may still be used in situations where one or both spouses own a business or a portion of a business. There is, however, another very common scenario in which a prenuptial agreement is, at the very least, a good idea if not indispensable. A prenuptial agreement can be used to protect the rights of children from a previous relationship for both you and your spouse.
Marriage is a celebration of love and commitment between two partners hoping to spend their lives together. While most couples enter marriage with the best of intentions, divorce statistics in the United States show that many couples do not have a happily ever after. For this reason, many divorce attorneys and other specialists encourage couples to consider prenuptial or postnuptial agreements. While discussing the dissolution of your marriage before it has begun can seem unpleasant, when properly drafted and implemented, a prenuptial or postnuptial agreement can truly benefit both spouses. Prenuptial and postnuptial agreements are no longer only utilized by America’s wealthiest couples. Here is what you need to know.
The average age at which Americans marry for the first time continues to rise to record levels. This, combined with the increasing number of second and third marriages, means that couples are bringing more of their individual lives with them when they marry. Each spouse, on average, has had more time to pursue business interests and accumulate wealth, for example, than they may have had a generation or two ago. As such, prenuptial agreements are also becoming increasingly common, as individuals seek to protect specific assets or interests in the event the marriage fails.
In the world of celebrities and millionaires, in which whirlwind romances (and splits) are par for the course, prenuptial agreements find themselves at the center of focus for many couples. These contracts help decide who gets what, and when they may receive it after a divorce.