MORE PEOPLE ARE USING PRENUPTIAL AGREEMENTS NOW THAN DECADES AGO
People who get married these days are much more likely to have prenuptial agreements in place than people who were married decades ago. One of the reasons for this is that people aren’t getting married as young as what they once did. Instead, some people are waiting until they have an established career and some measure of financial security.
When you go into a marriage with financial security and more stability, you have every reason to want to protect it. This is especially true when you and your betrothed don’t have the same views about money. The difference in money styles could spell doom if you don’t address them early.
A prenuptial agreement can help you keep things separated. For example, if you have worked hard to put money into your retirement and your betrothed likes to make risky investments, you might want to know that your retirement funds aren’t going to go toward paying off the investments’ debts if you divorce.
Another reason for the increase in prenuptial agreements is that more homes are two-income homes. In 1975, around 43 percent of women stayed home to care for children or tend the house. That has decreased to only 14 percent in recent times.
Ultimately, prenuptial agreements are about making sure that both parties have some protections if the marriage ends. Knowing what to include in the document, when to present it and what must be included to make it legally binding are important things to think about when you are ready to take this step in your relationship.
Source: The Washington Post, “Why you’re more likely to have a prenup than your parents were,” Jonnelle Marte, Aug. 04, 2017