Why More Couples Than Ever Are Getting Prenuptial Agreements
There is no doubt that prenuptial agreements are becoming increasingly popular. Estimates now place the number of couples entering marriage with a prenup agreement at 15%. What may be even more telling is that young marrieds (35 years and under) are getting prenups at about a 40% rate. Why are so many people getting prenups, and why the boom in younger couples?
Some attribute the pandemic to the rise in prenups, as young people have seen an increase in divorces within their own group of family and friends. With couples spending so much time isolated together, it has manifested in shorter marriages. This, in turn, has triggered more to seek the benefits of prenups.
Individual Finances are More Commonplace
While the Boomer generation often combined savings, investments, checking accounts, and credit cards, it is much more common for younger people to keep separate accounts. This is the norm and falls within line of what a prenup is designed to facilitate.
People are Getting Married at an Older Age
Young people are establishing careers and even buying real estate prior to getting married. This makes it more important to protect premarital assets, and more and more people are recognizing that prenuptial agreements are an efficient, practical, and common-sense way to do just that.
Prenup Agreements Carry Less Stigmatized
Prenups were once viewed as exclusive to the rich and famous. Some even believed getting a prenup could bring “doom” to a marriage or demonstrate a lack of trust in a relationship. More people understand that a marriage is also a legal arrangement and deserves a legal agreement should it be unsuccessful. Rather than seeing a prenup as a negative, couples are recognizing it can help bond them and provide valuable transparency.
More Couples are Paying More of Their Own Wedding Expenses
Since couples are waiting longer to get married, they are also paying more of their own wedding expenses. Many view prenups as part of these expenses. With weddings so expensive, a prenup is a practical choice.
Prenuptial agreements are certainly going to continue to gain in popularity, and more couples understand their value. In the ten-year period prior to the year 2000, prenup agreements increased five-fold. Soon, more married couples’ will have their assets protected by these agreements than not.
If you are wondering how to get started, we can help. We are Tampa, Florida’s prenup and postnup legal specialists. We can answer your questions with a no-cost initial consultation and craft a prenup that makes sense for you. Contact us today to join the growing list of couples discovering the value of a prenuptial agreement.
If you have questions about a prenup agreement or a postnup agreement or require legal assistance in other areas of Family Law in Tampa, Florida 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.