In the post-war years of the 1950s, the average age of men when they first married was just over 22 years. During that same time, the average woman was just over 20 when she wed. That pretty much stayed the same through the 1970s, when the average male was 24.7 years old and the average woman was 22 years old when first taking their wedding vows. In recent decades, that number has climbed. Today, the average man is about 29 at marriage, and the average woman is over 26.
There is no question that “young marrieds” are older today than they were decades ago. That is changing the face of marriage, finances, and families.
Some are more settled in their careers; others may have invested in real estate prior to marriage. Even after marriage, many couples pay separate bills and have their own savings and investments. It is no wonder prenuptial agreements and postnuptial agreements have become more practical and commonplace.
What do you want your marriage to look like? How can a prenup agreement help you reach those goals?
A Prenup Can Force Challenging, but Important Conversations
It is almost impossible to discuss a prenuptial agreement without having important financial discussions about where you are as individuals today, and where you want to be as a team in the future. Does one partner have excessive debt or spending problems? Does one have assets like real estate, savings, or even a trust or potential inheritance? Wouldn’t it be far better to have an understanding of these financial issues and how they should be handled if they occur in the future?
Financial issues are often a trouble spot in marriages. A prenup can help make sure you have a clear understanding of your plans and goals, and how assets would be addressed in a divorce.
A Prenup Can Help a Couple Achieve Their Goals While Protecting Personal Assets
In essence, a prenuptial agreement facilitates your ability to “own your own stuff” while making sure marital assets are divided equitably. Is it fair that one partner may have paid ten years on a 20-year mortgage, yet the other may have marital asset rights to that property the day after getting married? What about an inheritance one or the other may anticipate in the near future? The beauty of a prenup is that it provides more transparency and, hopefully, agreement on what should happen.
If you are planning a wedding and the subject of a prenup comes up, you are likely to hear a wide range of comments. “I could never do that”, “I love my fiancé too much”, “I trust him (or her)”, or even “Neither one of us has much anyway.” The real question is: What do you want your marriage to be like? Isn’t it better to start your marriage with openness and understanding? Isn’t it preferable to know where you are and agree on where you are going?
Today’s prenuptial agreements do not diminish marriages. They enhance it.
You may spend months or years and thousands of dollars planning a wedding. Doesn’t it make sense to invest a little of that time and money in ensuring your future?
If you have questions about a prenuptial agreement or postnuptial agreement, we have the answers. Reach out to us for a no-obligation initial consultation to learn more.
It is true. We are waiting longer and longer to get married. It is time we grew up about our attitudes regarding prenuptial agreements.
If you have questions about a prenup agreement or a postnup agreement or require legal assistance in other areas of Family Law such as high asset divorce you may always contact Damien McKinney of The McKinney Law Group to discuss your case further. He can be reached by phone at 813-428-3400 or by e-mail at [email protected].
We now offer virtual prenuptial agreements. Contact us to inquire further about our virtual prenup option.