Prenuptial agreements no longer simply protect multimillion-dollar wealth, expensive cars and island beach houses. These days, more and more people with less grandiose incomes are planning these agreements before marriage.
Sixty-three percent of divorce lawyers said that they have seen an increase in prenuptial agreements during the past three years, according to a new survey of the American Academy of Matrimonial Lawyers (AAML). In addition, 46 percent said there is an increase in the number of women initiating requests for prenups.
The president of the AAML and a HuffPost Divorce blogger, said the trend may echo the current state of the economy. He said as the financial and real estate markets bounce back, individuals will come to realize the likelihood of dividing those gains in a divorce.
A prenuptial agreement is a legal contract signed before a marriage and usually includes provisions for how assets and property are to be divided, as well as spousal support, should the marriage fail and lead to divorce.
The lawyers polled said the top three matters most commonly covered in prenups over the last three years are the alimony/spousal support, protection of separate property, and division of property.This is not the first time a study has shown that Americans are progressively accepting of prenuptial agreements. A Harris Interactive poll taken a few years ago, discovered that 44 percent of singles and 49 percent of divorced people said they thought having a prenup was a good idea. In addition, 15 percent of divorced people said they were sorry that they did not have one in place.
Divorce is never an easy situation for either spouse. It is wise for any person facing divorce to find a lawyer experienced in and who fully understands and will address the challenging issues that arise. Minnesota divorce attorneys will be able to work with you toward a reasonable resolution to this personal and legal matter.
huffingtonpost.com, “Prenuptial Agreements Are on the Rise, And More Women Are Requesting Them” No author given, Oct. 22, 2013