Can low remarriage rate open doors for prenuptial agreements?
The cliché “once bitten, twice shy” seems like an appropriate title for a new study about remarriage. The recent study showed that the country’s remarriage rate dropped by 40 percent in the last 20 years. The respondents have chosen cohabitation instead of getting remarrying.
Orange County, California, residents should learn from the study on how the perspective about marriage has drastically changed. The study was conducted by the National Center for Family and Marriage Research at Bowling Green State University. An analysis of the data from 1990 to 2011 showed that the remarriage rate dipped for all ages. The age range with the largest dip was for the 20-24 age bracket with 54 percent.
Meanwhile, 2012 census data indicate that 7.8 million Americans were living together without being married. Thirty-seven percent of that number was composed of people who were married before. Also, the cohabitation rate more than doubled from 5.1 percent in 1990 to 11.3 percent in 2012.
The increase seems to stem from the respondents’ concern about the success of remarriage. An expert indicates that cohabitation makes a relationship more complicated, especially when there are children involved. Another expert emphasizes that being previously married accounts for a higher level of financial awareness and skill that can be useful when a person remarries.
However, it is clear from the study that couples want to decrease possible drawbacks in the case of a divorce. Whether an Orange County couple decides to remarry or cohabitate, it is best that they are aware of their legal options. For a couple that decides to marry, a prenuptial agreement can help with disclosing assets and protecting property rights and other provisions a couple might want to include. A cohabitation agreement can do the same for unmarried couples.
Source: USA Today “Remarriage rate declining as more opt for cohabitation,” Sharon Jayson, Sep. 12, 2013