Even though the idea of discussing a prenuptial agreement with your partner does not sound romantic, the use of prenuptial agreements is on the rise. More people are viewing premarriage contracts as a necessity as the recession, second marriages and an older first time marriage age contribute to the increase in their use. In this post we will discuss the different reasons why family law attorneys have seen a rise in prenuptial agreements.
Prenuptial agreements outline property division when a marriage goes sour and more individuals are seeing prenuptial agreements from the perspective of an estate planning device. In the same way that people do not like completing wills because they feel like they are planning for death, people who create prenuptials may feel like they are planning for a divorce. The creation of a prenuptial does not have to come from that perspective. Instead, as one attorney put it, “you don’t have to be nervous about protecting your assets.”
In fact, prenuptial agreements can even strengthen a marriage because it forces individuals to sit down and talk about their finances. It is probably a good idea that couples talk about career and financial goals and think about those considerations before marriage. Generally, laws that enforce prenuptial agreements are even and are meant to protect both individuals. The old idea that prenuptial agreements were created in favor of the individual in the relationship that was the most well off is from the past and antiquated.
In our next post we will continue to discuss the reasons why prenuptial use has been on the rise.
Source: The Seattle Times, “More Couples Saying “I do” to Prenuptial Agreements,” Jeff Strickler, 10/13/10