Prenuptial agreements have long been associated with the wealthy seeking to protect their interests should their marriages come to an end. However, many California residents and others around the country now see the benefits of having a prenup in place if a divorce is eminent. In fact, there has been an increase among millennials in the popularity of such agreements, particularly among women.
However, under 5 percent of people in the country have a prenuptial agreement, though approximately one third of them believe the agreements are useful. Matrimonial law experts cite reasons for the rise in popularity of the documents. One reason is that many people are marrying at an older age. Individuals are working longer and have established careers and understandably want to protect the assets they have amassed.
Divorce is more widely prevalent in our society now, thus prompting people to think about the possibility of one as they enter into a relationship. Certainly, no one wants a marriage to fail. Yet, it is prudent to think about how to address certain issues when emotions are not running high in the midst of a divorce.
Common prenups include such topics as division of property and protection of separate property. Spousal support, or alimony, is another issue frequently addressed in the agreements. How to handle joint debt, child custody or various lifestyle stipulations may also be included.
A California divorce attorney can assist those who need to develop prenuptial agreements prior to a marriage. If someone is already married, an experienced lawyer would help design a postnuptial agreement that fits that situation. An attorney can provide assistance at any stage of a relationship that will help protect a client’s current and future interests.
Source: refinery29.com, “Prenuptial Agreement Popularity Rise Among Millennials“, Sarah Midkiff, Dec. 5, 2017