Prenuptial Agreement Frequency: How Often Are They Used?
Prenuptial agreements, also known as prenups, are legal agreements that couples sign before getting married. It specifies the division of assets, property, and debts in the event of a divorce or separation. Prenups have been a popular choice for couples for a long time, but how often are they used?
According to a survey conducted by the American Academy of Matrimonial Lawyers, prenuptial agreements have become more common in recent years. The survey found that 62% of the lawyers who participated had seen an increase in the number of prenuptial agreements they had drafted in the past three years.
There are several reasons why prenuptial agreements are becoming more popular. One reason is that people are getting married later in life and therefore bringing more assets to the marriage. With more assets at stake, couples are more likely to want to protect themselves in case of a divorce.
Another reason is that people are marrying for the second or third time, meaning they have already experienced the financial and emotional turmoil of a divorce. They want to ensure that their future is secure, especially if they have children from a previous marriage.
With the rise in popularity of prenuptial agreements, it`s important to note that they are not just for the wealthy. Anyone can benefit from a prenup, regardless of their income or assets. It can be a way to protect a family business, a retirement account, or even a pet.
It`s important to remember that a prenup is a legal agreement and should be taken seriously. Both parties should have their own legal representation and fully understand the terms and implications of the agreement before signing.
In conclusion, prenuptial agreements are becoming more common as people seek to protect their assets and secure their future. They are not just for the wealthy and can benefit anyone who wants to protect themselves and their loved ones. If you are considering a prenup, seek legal advice and ensure that both parties fully understand the terms and implications.